AFC commits US$600M to Dangote’s US$7B fertiliser expansion in Africa
The financing will support a major increase in fertiliser production in Nigeria and fund a new manufacturing plant in Ethiopia as Africa seeks to strengthen food production and cut reliance on imports.
NIGERIA/ETHIOPIA – Africa Finance Corporation (AFC) has committed US$600 million to support a US$7 billion fertiliser expansion programme by Dangote Group that aims to increase production in Nigeria and establish a new fertiliser manufacturing plant in Ethiopia.
The funding will go to Greenview Fertiliser Corp., Dangote’s fertiliser holding company, and marks the latest step in a long-standing partnership between AFC and the group behind some of Africa’s largest industrial projects.
The expansion programme will increase urea fertiliser production capacity in Nigeria from 3 million metric tonnes per year to 9 million metric tonnes per year. It will also add a new fertiliser plant in Ethiopia with a production capacity of 3 million metric tonnes annually.
AFC said the investment comes at a time when Africa faces rising food demand, population growth and pressure on agricultural systems. The corporation noted that many African countries still depend heavily on imported fertiliser despite the continent’s large natural gas reserves and vast areas of uncultivated arable land.
According to AFC, increasing local production will help improve food security, support farm output and reduce reliance on imports.
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, said the project marks an important stage in the group’s fertiliser business.
“This investment marks another important milestone in our long-standing partnership with AFC as we embark on the next phase of Dangote Fertilizer’s growth. Expanding our fertiliser production capacity in Nigeria and developing a new plant in Ethiopia will strengthen Africa’s food security, support agricultural productivity, and deepen the continent’s industrial base.”
Samaila Zubairu, President and Chief Executive Officer of AFC, said Africa must expand fertiliser use if it hopes to meet future food needs.
“The question before Africa is simple: how will we feed 2.5 billion people by 2050?” he said.
“By supporting the development of the world’s largest fertiliser platform, AFC is helping build the foundation for Africa to feed itself, create productive jobs and strengthen our economic sovereignty.”
The announcement follows a recent increase in the budget for Dangote’s Ethiopia fertiliser project. In May 2026, Dangote Group raised the cost of the development to more than US$4 billion from an earlier estimate of US$2.5 billion.
The revised budget includes a 110-kilometre gas pipeline, a 120-megawatt power plant, a polypropylene packaging facility and an NPK fertiliser blending plant with a capacity of 2 million tonnes.
Ethiopian Prime Minister Abiy Ahmed said the project would help reduce the country’s dependence on imported fertiliser and strengthen food security. Once completed, the plant is expected to produce 3 million tonnes of fertiliser each year.
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