The $2.5 billion granulated fertilizer plant will help in achieving food sufficiency for Africa’s most populous country.
Africa’s richest man, Aliko Dangote has disclosed that one of his closely held assets, the $2.5 billion granulated fertilizer plant located in Lekki Free Trade Zone (LFTZ), will commence operation in Nigeria in the first week of April.
The billionaire whose current wealth is valued at $16.6 billion, revealed this on Saturday during a tour of the Petrochemicals and refinery complex facilities by the Governor of Lagos State, Babajide Sanwo-Olu, and his team.
Africa’s richest man, Aliko Dangote has disclosed that one of his closely held assets, the $2.5 billion granulated fertilizer plant located in Lekki Free Trade Zone (LFTZ), will commence operation in Nigeria in the first week of April.
The billionaire whose current wealth is valued at $16.6 billion, revealed this on Saturday during a tour of the Petrochemicals and refinery complex facilities by the Governor of Lagos State, Babajide Sanwo-Olu, and his team.
The Urea Fertilizer plant was built to tap into Nigeria’s demand for fertilizer, a critical component of achieving food sufficiency for Africa’s most populous country.
The Fertilizer plant is expected to manufacture 3 million metric tonnes of urea per annum, with a view to reducing the nation’s fertilizer imports, and generating $400m annual foreign exchange from export to Africa countries.
