What We Know About the Newly Commissioned $2.5bn Dangote Fertiliser plant and its Economical Benefits
President of Nigeria, Muhammadu Buhari recently commissioned the new three million Metric Tonnes capacity per annum and state-of-the-art Dangote Fertiliser Urea Plant, with an assurance that the project would boost the Nigerian agricultural sector.
With revitalisation being the focal point of his administration’s economic policy, the new plant was commissioned at Ibeju Lekki, Lagos Free Trade Zone within the Dangote refinery. It was witnessed by 18 governors, ministers, captains of industries as well as prominent traditional rulers.
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What We Know/Benefits of the Plant
- The fertilizer plant is the largest granulated Urea fertiliser complex in Africa and occupies 500 hectares of land
- The plant was built at $2.5 Billion and is expected to reduce the level of unemployment and youth restiveness in the country through employment opportunities
- The plant would create huge opportunities in the areas of employment, trade, warehousing, transport and logistics. According to the President it “will greatly create wealth, reduce poverty and secure the future of our nation”.
- Nigerians can expect a boom in the nation’s agricultural sector with the availability of fertilizer
- Many Nigerians who practised subsistence farming because of the non-availability of necessary inputs can now take up agriculture as a business
- The fertiliser plant is rolling out with innovations that would transform the agricultural sector in the form of extension services for small and medium-scale farmers. It has set up a well-equipped fertiliser soil testing laboratory to enable it to analyse and identify soil deficiency and the appropriate fertiliser blend.
- The new plant is a game-changer, according to Nigerian businessman Aliko Dangote. This is because the plant can make Nigeria self-sufficient in fertiliser production, with spare capacity to export to other markets in Africa and the rest of the world.
- This development will raise a new breed of agropreneurs who will add value to farming and make the nation self-sufficient in food production
The federal government of Nigeria is now determined more than ever, to provide an enabling environment for private sector investors to thrive. President Buhari confirmed that his government would continue to improve on infrastructure, power, security and enact relevant laws and regulations that would drive investments in the economy.
Congratulations on the new development👏