US EditionNigeria: Dangote Holds Key to Lower Inflation - Economic Think Tank
NIGERIA, JUL 7 – The refinery aims to cut Nigeria's fuel import reliance by fully using local crude, boosting domestic production from 53% in June to 100% by year-end, officials said.
- Dangote Fertilizer Limited, located in Lagos, operates Africa's largest fertilizer plant with a $3 billion valuation and 3 million metric tonnes capacity.
- Aliko Dangote aims to expand production to meet Africa's fertilizer demand and reduce import reliance amid the continent's ongoing import burden.
- The plant is currently operating at half its potential, and this additional production capacity should help reduce costs for farmers, support the creation of tailored fertilizer blends, and expand export prospects within the region.
- Dangote Fertilizer is preparing for an initial public offering on the Nigerian Exchange that could value the company at over $3 billion, attracting new investment to fuel its expansion and support Nigeria’s goal of greater agricultural self-sufficiency.
- This expansion and financial strategy may reduce Africa's fertilizer import dependence and strengthen domestic agriculture, signaling significant economic implications.
18 Articles
18 Articles
Dangote Refinery targets end to crude imports from US, other countries by December
Dangote Refinery has announced plans to dump imports from the United States and other countries and rely 100 percent on domestic crude. According to Bloomberg, the vice president of Dangote Industries, Devakumar Edwin, made this known during an interview. The newspaper reports that Edwin noted that Dangote Refinery received half of its crude in June from local producers who will be able to sell more to the facility as their foreign supply obliga…
Dangote to Halt Crude Imports by December
The Dangote Petroleum Refinery plans to end crude importation by December 2025, a move that will replace hundreds of thousands of barrels per day of foreign oil. According to a Bloomberg report, Devakumar Edwin, Vice President at Dangote Industries, who oversees the 650,000 barrel-a-day plant in Lagos, stated that “contracts with foreign crude suppliers would expire” and the refinery would then source its feedstock locally. Edwin confirmed that …
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