Lagos, June 15, 2026 – The Dangote Group has signed a $600 million loan agreement with Africa Finance Corporation (AFC) for expansion of its fertiliser production across Africa.
Dangote group said in a statement that the loan facility to GreenView Fertilizer Corporation (Greenview) and Dangote Fertlizer Holding Company is to part-finance the expansion of its urea fertiliser production capacity in Nigeria and the development of the plant in Ethiopia.
The loan is to specifically to expand fertiliser production capacity in Africa, strengthen regional food security, support agricultural productivity, and reduce the continent’s dependence on imported fertiliser.
The statement said: “This expansion is expected to significantly scale up production capacity, enhance supply chain efficiency, and ensure the steady availability of high-quality fertilizers to farmers across Africa.
“It will also help reduce dependency on fertilizer imports, stabilize prices, and improve agricultural yields, thereby strengthening the continent’s food security framework.”
Aliko Dangote, the President of Dangote Group, said the expansion is expected to generate over $4 billion annually in export earnings within the next three years.
“What he’s actually given us this money for is a company where, by the next three years, we’ll be able to have an export of over $4 billion worth of urea fertilizer, and I think it is a big contribution to the foreign exchange income of the country… You can continue to count on us.
“When we say that we want to grow our group to $100 billion by 2030, it doesn’t mean that we want to grow alone; we want to grow together, especially with African Finance Corporation among other notable institutions in Africa.”
Samaila Zubairu, the Chief Executive of AFC said:“This transaction demonstrates AFC’s capital recycling model in action. Following the successful repayment of our earlier investment in Dangote Industries Limited, we are redeploying and doubling that capital into Dangote Group’s next phase of growth.
“By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial champion whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent.”
