*Nigerian President Muhammadu Buhari is impressed with the scale of investment in the new 3million metric tonnes capacity per annum state-of-the-art Dangote Fertilizer Plant, assures consumers the project will give a huge boost to the country鈥檚 essential agricultural sector

*The plant is a game changer, as it has the capacity to make Nigeria become self-sufficient in fertilizer production, and for export to other markets in Africa and the rest of the world, says Aliko Dangote, President and Chief Executive of Dangote Group

*Godwin Emefiele, Governor of Central Bank of Nigeria, lauds Dangote for his giant stride to add value to Nigerian economy

Gbenga Kayode | 绿帽献妻

The coming on stream of the Dangote Fertilizer Urea Plant will create huge opportunities in the areas of employment, trade, warehousing, transport and logistics.

绿帽献妻 reports Nigerian President Muhammadu Buhari stated this Tuesday, March 22, 2022, at Ibeju-Lekki, in Lagos State, during the 聽commissioning of the new three million Metric Tonnes capacity per annum state-of-the-art Plant, with an emphatic assurance that the project would give a huge fillip to Nigeria鈥檚 agricultural sector.

The revitalisation of the important agricultural sector of the economy has been a focal point of President Buhari administration鈥檚 economic policy.

President Buhari commissioning the Dangote Fertilizer Urea Plant 聽Photo: Wadr.Org

The new plant, which he commissioned in the presence of some 18 governors, ministers, captains of industry as well as prominent traditional rulers, is located in the Lagos Free Trade Zone within the periphery of the Dangote Oil Refinery.

Visibly excited President Buhari said the coming on stream of the plant would create huge opportunities in the areas of employment, trade, warehousing, transport and logistics. The Nigerian President further stated that the plant 鈥渨ill greatly create wealth, drastically reduce poverty and secure the future of our nation.鈥�

Facility to support agricultural sector of economic policy, says Buhari

He as well noted: 鈥淚n the agricultural sector, another focal point of our economic policy, we expect a boom as fertilizer is now readily available.

鈥淢any Nigerians who hitherto practised subsistence farming because of non-availability of necessary inputs can now take up agriculture as a business.

鈥淲e expect a rise of new breed of agropreneurs who will add value to farming and make the nation self-sufficient in food production.鈥�

The Federal Government, Buhari said, is now determined more than ever before to provide enabling environment for private sector investors to thrive.

According to him, his administration will continue to improve on essential infrastructure, power, security, and enact relevant laws and regulations that would drive investments in the Nigerian economy.

He also reiterated that part of the government鈥檚 effort in this regard was the partnership with the private sector via a tax credit scheme, in the rehabilitation of roads across Nigeria under the Presidential Order No. 7.

L-R: Mariya Aliko Dangote, Director at Dangote Industries Limited; Amina Mohammed, Deputy Secretary-General of the UN; Aliko Dangote; President Buhari; Governor Babajide Sanwo-Olu; and Halima Aliko Dangote, Group Executive Director, Dangote Industries Limited at the event in Lagos.聽 聽

Buhari stated: 鈥淎s we all know, good roads contribute to easy movement of goods and services across the nation, thus reducing cost of doing business and improving productivity.

鈥淲e are also rehabilitating our railway lines and building new ones to lessen the burden on our roads and create more effective multi-model transportation networks.鈥�

New Fertilizer plant is a game changer 鈹�Aliko Dangote

Earlier in his welcome address on the occasion, Alhaji Aliko Dangote, President and Chief Executive of Dangote Group, had described the new plant as a game changer with the capacity to make Nigeria become self-sufficient in fertilizer production and spare capacity to export to other markets in Africa and the rest of the world.

Dangote stated that already, the new fertilizer has reached the markets in the USA, Brazil and Mexico.

Plant is largest granulated Urea fertilizer complex in Africa

Dangote further disclosed that the newly-commissioned Fertilizer plant, which is the largest granulated Urea fertilizer complex on the African continent, occupies 500 hectares of land.

The facility was built at a cost of $2.5billion, and it is expected to reduce drastically level of unemployment and youth restiveness in the country through employment opportunities.

The plant, he further stated, is expected to generate new jobs with top quality fertiliser being available and in sufficient quantities for the farmers.

Agriculture accounts for 20 percent of Nigeria鈥檚 Gross Domestic Product (GDP), and the new plant is an ambitious project that will provide both direct and indirect employment, thereby reducing youth restiveness, he said.

Emergence of fresh agroprenuers with improved soil quality and productivity

Dangote Fertilizer, according to the President and Chief Executive of Dangote Group, will ensure emergence of farmers in the country, provide hundreds of jobs and ushering in a new era of agricultural entrepreneurs, (agroprenuers).

He said: 鈥淭his breed of agroprenuers will take to farming on large scales, providing food and raw materials for our industries.鈥�

Dangote also stated that the fertilizer plant is rolling out with innovations that would transform the agricultural sector in the form of extension services for small and medium-scale farmers.

Dangote Fertilizer

It has set up a well-equipped fertilizer soil testing laboratory to enable it to analyse and identify soil deficiency and the appropriate fertilizer blend, said he.

He further explained that 鈥渟tudies have shown that applying the right fertilizer to the soil will boost productivity.

鈥淭his service is to cover all the geopolitical zones, and will surely change agricultural landscape in the country by transforming farming into a lucrative profession.

鈥淒angote Fertilizer is working with Farmer Associations, Corporate Farmers, NPK Blenders, NGO/development partners and State Governments all over Nigeria, and governments across Africa and beyond who are looking for sustainable approach to improving soil quality and farm yields.鈥�

CBN Governor applauds Aliko Dangote for adding value to Nigerian economy

In his remarks on the occasion, Mr. Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), declared that Nigeria is, indeed, indebted to Aliko Dangote for his giant stride to add value to the West African country鈥檚 economy.

Emefiele stated: 鈥淚t is great that a Nigerian has taken not just this great initiative of helping to solve our perennial problem of importing petrochemical products including fertilizer but has taken advantage of the emerging huge market opportunity presented by recent global developments.鈥�

The CBN Governor also commended President Buhari for providing all the support needed to put in place economic policies that would reverse the trend of the doldrums in the economy.

Emefiele also noted that completion of the fertilizer plant is a stellar example of the realisation of the vision.

Dangote鈥檚 investment to reduce farmers鈥� dependence on imported fertilizer

Meanwhile, the Governor of CBN has described the fertilizer plant as timely, considering the recent developments in the global market, where prices of wheat, fertiliser and crude oil spiked by over 20 percent, following the outbreak of the Russia-Ukraine war.

鈥淚n addition to the lessons we learnt from the protectionist actions of countries during the early days of COVID-19, this investment is again a glaring testament to the foresight and tireless efforts of Mr. President in encouraging domestic production of items that can be produced in Nigeria, especially agriculture.

鈥淭his would not only help to enable greater productivity of our agricultural sector but also help in insulating Nigeria farmers from depending on imported fertilizer,鈥� Emefiele stated.

The CBN Chief further recalled that prior to 2015 when President Buhari resumed office, Nigeria had a fertilizer shortfall of about 3.5 million tonnes per annum compared to the over 6 million tonnes per annum required in the country.

鈥淭hen President Buhari inaugurated the Presidential Fertiliser Initiative and charged them with resolving this problem.

鈥淲ith sustained efforts, other indigenous companies like Indorama and Notore with a combined capacity of over 2.5million tonnes per annum have tried to match the market demand, yet the country still faced a huge shortfall of fertilizer supply.

鈥淭oday, Nigeria is self-sufficient in the production of urea, and we are also the leading producer of urea in the African continent,鈥� Emefiele said.

Dr. Mahmood Abubakar, Honourable Minister for Agriculture, urged other investors to rise to the occasion, and said the Dangote Fertilizer would help to resolve the problem of fertilizer shortages in the country.

The Minister also assured consumers that the government would enforce standard in the industry in order to maintain product quality.

Lagos offers enabling environment to make investments, businesses to thrive: Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos State at the event also applauded Alhaji Aliko Dangote for always blazing the trail, and noted that the Lagos State Government (LASG) is happy to be hosting many of his businesses.

Sanwo-Olu said: 鈥淲ith the largest fertilizer plant in Africa in Lagos and the largest refinery in the world coming soon, there is nobody that would not be proud of Alhaji Dangote.鈥�

Nigeria would quickly forget its several economic problems, if another entrepreneur like Dangote could be replicated in other regions of the country, he stated.

THe Lags State Governor also said that private investors could always count on the Lagos State Government when it comes to provision of an enabling environment to make businesses thrive.

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