Africa Finance Corporation (AFC) (www.AfricaFC.org), Africa’s leading infrastructure solutions institution, is supporting a US$7 billion fertiliser expansion initiative by Dangote Group aimed at tripling production capacity in Nigeria while establishing a significant new manufacturing base in Ethiopia.
As a key component of the programme, AFC is providing a US$600 million financing facility to Greenview Fertiliser Corp. (Greenview), Dangote’s fertiliser holding company. This transaction further strengthens AFC’s long-established relationship with Dangote Group across some of the continent’s most impactful industrial developments. AFC previously acted as Co-Coordinating Bank on the US$3 billion syndicated financing for the Dangote Refinery and recently received full repayment of its original US$300 million senior term loan to Dangote Industries Limited, which played a pivotal role in transforming the refinery project from concept into operation. Reinvesting capital at twice the previous amount into Dangote Group reflects AFC’s strategy of supplying early-stage risk capital and subsequently reallocating funds into the next generation of transformative projects once existing assets achieve stable and sustainable cash-generating performance.
This fertiliser investment positions Africa to respond proactively to major structural trends influencing long-term development priorities, including rapid population growth, increasing food demand, climate-related challenges affecting agricultural systems, and the necessity of extracting greater value from the continent’s natural resources. Recent disruptions in global supply chains and commodity markets have also highlighted the vulnerabilities associated with dependence on imported agricultural inputs. Although Africa possesses some of the largest natural gas reserves in the world and approximately one-quarter of global uncultivated arable land, the continent remains heavily dependent on imported fertiliser, making expanded local production essential for food security and agricultural resilience.
Dangote’s expansion programme is expected to increase urea fertiliser production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while also adding a new 3 MTPA urea fertiliser facility in Ethiopia. The project is anticipated to reinforce regional food security, improve agricultural productivity, reduce reliance on imported fertiliser, and strengthen Africa’s role as a supplier to international markets.
Commenting on the transaction, Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, stated: “This investment represents another significant milestone in our enduring partnership with AFC as we move into the next stage of Dangote Fertilizer’s expansion. Increasing our fertiliser production capacity in Nigeria and developing a new facility in Ethiopia will enhance Africa’s food security, boost agricultural productivity, and further strengthen the continent’s industrial foundation. AFC has consistently supported Dangote Group during critical phases of our growth journey, and this renewed commitment demonstrates confidence in our vision of building globally competitive industrial platforms originating from Africa.”
Samaila Zubairu, President and CEO of AFC, said: “The challenge facing Africa is straightforward: how will we provide food for 2.5 billion people by 2050? Africa’s population of 1.5 billion consumes only 6 million tonnes of urea each year, compared with 40 million tonnes in India and 50 million tonnes in China, despite having populations of comparable scale. Bridging this productivity gap is fundamental to securing Africa’s food future. By supporting the development of the world’s largest fertiliser platform, AFC is helping establish the foundation for Africa to feed itself, generate productive employment opportunities, and strengthen economic sovereignty. This goes beyond an investment in fertiliser manufacturing—it is tangible proof of the Africa we are building.”
AFC has played a catalytic role throughout several phases of Dangote Group’s industrial expansion. In 2024, AFC partnered with Access Bank to provide the first working capital facility for Dangote Petroleum Refinery and Petrochemicals FZE, supporting crude oil procurement for commissioning activities and the commencement of production.
The latest financing transaction reflects AFC’s commitment to investments that reinforce the systems supporting sustainable long-term economic growth, including energy, transportation, logistics, industrial processing, and food security. In addition to investments in strategic transport corridors, port infrastructure, power generation assets, and industrial platforms, AFC continues to support projects that expand Africa’s capacity to produce, process, and distribute critical goods domestically while increasing exports to regional and global markets.
About AFC
AFC was founded in 2007 with the objective of serving as a catalyst for practical infrastructure and industrial investments across Africa. The corporation combines specialised industry expertise with financial and technical advisory capabilities, project structuring, project development, and risk capital solutions to address Africa’s infrastructure requirements and promote sustainable economic growth.
Eighteen years later, AFC has established itself as a preferred partner for investing in and delivering high-quality infrastructure assets across the continent. These projects provide essential services within key sectors including energy, natural resources, heavy industry, transportation, and telecommunications. AFC currently has 48 member countries and has invested more than US$19 billion across 36 African nations since its inception.
About Greenview Fertiliser Corp.
Greenview Fertiliser Corp. serves as the holding company for Dangote Group’s fertiliser operations. Its portfolio includes its wholly owned subsidiary, Dangote Fertiliser Limited, which operates Africa’s largest granulated urea fertiliser plant located within the Dangote Industries Free Zone in Ibeju-Lekki, Lagos, Nigeria. The facility currently produces 3 MTPA of urea for both domestic and international markets, with expansion plans already underway to increase production capacity to 9 MTPA.