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Business News of Thursday, 13 October 2016

Source: 3 News

Dangote to revolutionise agriculture in Africa with cheap fertilizer

The Dangote Group of Companies is set to revolutionise agric production in Africa with a two billion-dollar fertilizer plant that will produce for countries within the sub-region at a significantly cheap price.

The two-line plant located in Lagos State, Nigeria, which is currently under construction, will produce a total of three million tones of fertilizer annually to feed farmers in the West African sub region to boost agricultural production.

Over one million tonnes of fertilizer is expected to be imported to the Ghanaian market when production begins in December 2017 to help local farmers in their agric business.

Engineering works of the plant is 98 per cent while construction is 10 per cent complete.

The plant will be powered with natural gas.Officials say the world-class fertilizer project, made up of Amonia and Urea plants, would impact positively on crop production on the continent, noting their fertilizer will be significantly cheaper than those imported from the gulf at high cost.

Addressing journalist in Lagos, General Manager of the Dangote Fertilizers, Anurag Jaiswal observed most African countries are unable to meet the expected crop production due to lack of fertilizer inputs for farmers.

He assured the plant will produce high end urea fertilizers which will significantly enhance food security in the ECOWAS region.

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