Africa’s richest man Aliko Dangote outlines expansion plans for $3 billion fertilizer plant
Dangote eyes expansion of $3 billion fertilizer plant to reduce Africa’s imports and boost local food production in 40 months.
Skip to content
Dangote eyes expansion of $3 billion fertilizer plant to reduce Africa’s imports and boost local food production in 40 months.
Black billionaires near $100 billionaire net worth as AI, energy, and finance drive gains; Dangote and Karp lead the July 2025 ranking.
The refinery is deploying 4,000 CNG-powered trucks nationwide to deliver petrol, diesel, and aviation fuel directly to filling stations and industrial hubs.
The fertilizer plant, spread across 500 hectares in Ibeju Lekki, Lagos, is already the largest of its kind in Africa.
A 90,000-metric-ton cargo of gasoline is scheduled to leave the refinery for Asia, marking the first time fuel from the Lagos-based facility will be sold outside the region.
It is ready to deploy 4,000 new Compressed Natural Gas (CNG)-powered tankers to enhance last-mile delivery and fuel accessibility across Nigeria.
As part of the latest phase, Tetracore installed a mobile AutoGas refueling unit at Dangote Cement’s Ibese Plant in Ogun State.
When asked about the possible listings of his refinery or other Dangote Group businesses, Dangote said, “Yes, definitely."
The shift underscores evolving global trade dynamics and Nigeria’s urgent need to stabilize fuel production.
The $20 billion refinery, the largest in Africa and the world’s biggest single-train facility, has reduced Nigeria’s need for imported petrol.
The move marks a major milestone for Nigerian industrial exports as the country shifts from import dependence to value-added manufacturing.
The latest delivery, discharged by the vessel Hercules, comes ahead of another 125,000-tonne shipment expected via the Sienna.
The boost further cements his position as Africa’s second-richest person, behind Nigerian industrialist Aliko Dangote.
This reflects the growing appeal of Kenya’s tourism sector to international investors.
Dangote Sugar expands into Ghana with a $162 million project to reduce imports, boost agro-industrial output, and support local supply under AfCFTA.
Aliko Dangote reaffirms his $30 billion revenue target by 2026, undeterred by shifting U.S. tariffs and global trade tensions under Donald Trump.