Dangote Group secures $600 million loan from Africa Finance Corporation for fertilizer expansion

Dangote Industries Limited and the Africa Finance Corporation (AFC) signed a $600 million loan agreement in Lagos to fund the expansion of Dangote’s fertilizer production capacity. The financing will increase urea output in Nigeria from 3 million to 9 million metric tonnes per annum and support the construction of a new 3 million‑tonne per annum plant in Ethiopia, forming part of a broader $7 billion fertiliser expansion programme.

Dangote Group’s President Aliko Dangote said the expanded capacity is expected to generate over $4 billion in annual export earnings, boosting Nigeria’s foreign‑exchange earnings and strengthening food security across Africa by reducing reliance on imported fertiliser.

The loan underscores AFC’s confidence in Dangote’s role in industrial growth and agricultural transformation on the continent.