Ethiopian Business Review

Dangote Secures $600 Million AFC Financing for Fertiliser Expansion in Nigeria and Ethiopia #EBR_News Jun 15, 2026 Africa Finance Corporation (AFC) is providing a $600 million facility to support a $7 billion fertiliser expansion programme by Dangote Group that will triple production capacity in Nigeria and establish a new 3 million metric tonnes per annum (MTPA) urea plant in Ethiopia. The financing will be provided to Greenview Fertiliser Corp., Dangote Group's fertilizer holding company, according to a statement released by AFC on Monday. The corporation said the broader expansion program aims to increase Dangote's urea fertilizer production capacity in Nigeria from 3 million metric tons to 9 million metric tons annually while also supporting the development of a 3 million metric ton-per-year fertilizer plant in Ethiopia. AFC described the investment as part of efforts to strengthen Africa's food security and reduce the continent's dependence on imported fertilizer. The announcement comes more than a year after Ethiopian Investment Holdings (EIH) and Dangote Group signed an agreement to develop a fertilizer plant in Gode, Somali Regional State. AFC's statement did not specify whether the Ethiopia facility referenced in the new financing package is the same project previously announced by EIH and Dangote. Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, said the investment marks a new phase in the company's fertilizer expansion strategy. "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," Dangote said in the statement. According to AFC, the expansion is expected to improve fertilizer availability across Africa, boost agricultural productivity and reduce the continent's reliance on imported agricultural inputs despite its large natural gas reserves and vast arable land resources. The institution said disruptions in global supply chains in recent years have highlighted the vulnerability of African countries that depend heavily on imported fertilizer. Samaila Zubairu, President and Chief Executive Officer of AFC, said increasing fertilizer production is critical to meeting Africa's growing food demand. "Africa's 1.5 billion people consume just 6 million tonnes of urea annually, compared to 40 million tonnes in India and 50 million tonnes in China, despite having similar-sized populations," he said. AFC said the transaction expands its longstanding relationship with Dangote Group, which includes previous financing support for the Dangote Refinery project in Nigeria. The corporation noted that the latest financing aligns with its strategy of supporting large-scale industrial, energy, transport and food-security projects across the continent. Follow EBR for the latest business news, trends, and expert analysis: Telegram (https://t.me/ebr_news) Facebook (https://bit.ly/3OodjMF) LinkedIn (https://lnkd.in/eAVk65Xv) WhatsApp (https://bit.ly/4tH4NIR)