Food Security: AFC Deepens Partnership with Dangote Group with $600m Loan towards Fertilizer Expansion

Food Security: AFC Deepens Partnership with Dangote Group with $600m Loan towards Fertilizer Expansion

…Dangote says Nigeria will benefit over $4bn in forex from his company’s fertiliser export

DSC 8557, L-R, President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between AFC and Dangote Industries Limited, in Lagos on Friday 12, June 2026. 

DSC 8569, L-R, President/CE, Dangote Industries Limited, Aliko Dangote; Snr. Vice President & Principal Counsel, Africa Finance Corporation, Titilayo Oke; Chairman of Board of Directors, Africa Finance Corporation, (AFC), Samaila Zubairu; Group Chief Financial Officer, Dangote Industries Limited, Murat Erden; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026. 

DSC 8577, L-R, President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026. 

DSC 8600, L-R, Executive Officer, Greenview Fertiliser Corp, Vishwajit Sinha; Director & GC (Legal & Corporate Secretariat) Africa Finance Corporation (AFC) Vivienne Yeda; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, (AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026. 

DSC 8601, L-R, President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026. 

DSC 8603, L-R, Executive Officer, Greenview Fertiliser Corp, Vishwajit Sinha ; Director & GC ( Legal & Corporate Secretariat) Africa Finance Corporation (AFC) Vivienne Yeda; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; Snr. Vice President & Principal Counsel, Africa Finance Corporation, Titilayo Oke; Group Chief Financial Officer, Dangote Industries Limited, Murat Erden; During the Signing Ceremony of Agreement Between Dangote Industries Limited, Africa Finance Corporation, in Lagos on Friday 12, June 2026. 

DSC 8725, L-R, President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026. 

DSC 8742, L-R, President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026.

The Dangote Group has strengthened its strategic partnership with the Africa Finance Corporation (AFC) with the signing of a $600 million loan agreement to support the expansion of its fertilizer production capacity, in a major boost to food security across Nigeria and the African continent.

 

The loan facility to GreenView Fertilizer Corporation (Greenview), the Dangote Fertlizer Holding Company will part finance the expansion of its urea fertilizer production capacity in Nigeria and the development of the plant in Ethiopia.

 

The investment forms part of Dangote Group’s broader US$7 billion fertilizer expansion programme, which is expected to increase Dangote Fertilizer’s production capacity in Nigeria from 3 million metric tonnes per annum (“MTPA”) to 9 MTPA, while also supporting the development of a new 3 MTPA urea fertilizer plant in Ethiopia. The programme is expected to materially expand Africa’s fertilizer production capacity, strengthen regional food security, support agricultural productivity, and reduce the continent’s dependence on imported fertilizer.

 

The financing underscores AFC’s continued confidence in Dangote Group’s vision to drive industrial growth and agricultural transformation through large-scale investments in critical infrastructure. The facility will be deployed towards expanding the Dangote Fertilizer Plant, one of the largest granulated urea fertilizer complexes in the world, located in Ibeju-Lekki, Lagos State.

 

This expansion is expected to significantly scale up production capacity, enhance supply chain efficiency, and ensure the steady availability of high-quality fertilizers to farmers across Africa. It will also help reduce dependency on fertilizer imports, stabilize prices, and improve agricultural yields, thereby strengthening the continent’s food security framework.

 

Speaking on the development, President of Dangote Group, Aliko Dangote says the expansion is expected to generate over $4 billion annually in export earnings within the next three years.: “What he's actually given us this money for is a company where by the next three years we'll be able to have an export of over $4 billion worth of urea fertilizer, and I think it is a big contribution to the foreign exchange income of the country… You can continue to count on us. When we say that we want to grow our group to $100 billion by 2030, it doesn't mean that we want to grow alone, we want to grow together, especially with African Finance Corporation among other notable institutions in Africa”

 

Commenting on the transaction, Samaila Zubairu, President & CEO of Africa Finance Corporation, said: “This transaction demonstrates AFC’s capital recycling model in action. Following the successful repayment of our earlier investment in Dangote Industries Limited, we are redeploying and doubling that capital into Dangote Group’s next phase of growth. By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial champion whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent."

  

The Dangote Fertilizer Plant currently plays a pivotal role in meeting domestic demand while also exporting to international markets, generating foreign exchange earnings for Nigeria. With the planned expansion, the company aims to further consolidate its leadership in the global fertilizer market.