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The $2 billion granulated urea fertiliser plant located at Ibeju Lekki, Lagos, will start operations next week, this is according to the chairman of Dangote Group, Aliko Dangote.
He made this known in Lagos on Saturday, during a tour of facilities by Babajide Sanwo-Olu, governor of Lagos, at the Lekki Free Trade Zone and Dangote petrochemical refinery facilities.
The billionaire businessman also revealed that the refinery plant will be completed later this year and production will commence first quarter 2022.
The fertiliser plant has a name-plate annual capacity of three million tons of urea and ammonia, which has been regarded as the largest in the world.
It is also being constructed in the Lekki Free Trade Zone area, home to other plants and factories including the 650,000 barrels per day Dangote Refinery and Lekki Port.
This makes Dangote fertiliser plant, the only urea exporting company in Sub-Saharan Africa, both the fertiliser and petrochemicals plants are capable of generating $2.5 billion annually.
The Governor of the Central Bank of Nigeria, Godwin Emeiele, had assured that arrangements have been to allow the Dangote Refinery sell refined petroleum products in naira when it starts production which will save foreign exchange for the country.
“I am saying that by this time next year, our cost of import of petroleum products for petrochemicals or fertiliser will be able to save that which will save Nigeria’s reserve,” Emefiele had said.
President Biden denounces violence against Asian-Americans, telling a community plunged into grief after this week’s Atlanta murders the nation must not be complicit with racism and xenophobia.
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