AFC Backs Fertiliser Expansion

Africa Finance Corporation (AFC) has committed US$600 million to Greenview Fertiliser Corp., Dangote Group’s fertiliser holding company, as part of a US$7 billion expansion programme aimed at increasing fertiliser production in Nigeria and establishing a new manufacturing plant in Ethiopia.

The investment strengthens AFC’s long-standing partnership with Dangote Group, following its involvement in financing the Dangote Refinery. AFC recently received full repayment of its US$300 million loan that helped support the refinery’s development, allowing it to reinvest in new transformative projects across the continent.

Under the expansion programme, Dangote plans to increase urea fertiliser production in Nigeria from 3 million metric tonnes per annum to 9 million metric tonnes, while constructing a new 3 million metric tonne plant in Ethiopia. The project is expected to improve food security, boost agricultural productivity, and reduce Africa’s dependence on imported fertiliser.

Dangote Industries President and Chief Executive Officer Aliko Dangote said the investment marks an important milestone in the company’s growth strategy, adding that the expansion will strengthen Africa’s industrial base and support efforts to build globally competitive manufacturing platforms on the continent.

AFC President and Chief Executive Officer Samaila Zubairu said the project is critical to addressing Africa’s future food needs as the population continues to grow. He noted that increasing fertiliser production will help create jobs, improve agricultural output, and strengthen the continent’s economic resilience while enhancing its position in regional and international markets.