Dangote fertilizer plant to export to U.S., India, Brazil
With the inauguration of the Dangote Fertilizer Plant, which has an installed capacity of 3.0 million metric tonnes of Urea per annum, President Muhammadu Buhari declared that Nigeria’s reliance on imported products in the agriculture sector will soon be a thing of the past.
The President said the plant will help Nigeria achieve food self-sufficiency, create jobs, increase foreign exchange inflows, and accelerate economic growth. He was speaking at the commissioning of the plant in Ibeju Lekki, Lagos State.
He praised Dangote Industries Limited’s Chairman, Board, and Management for taking the initiative in conceptualising and constructing the world’s second-largest plant.
The President expressed confidence that the investment in this plant will repeat the Group’s previous successes in the cement sector, where Dangote Cement is Africa’s largest cement producer, with operations in ten other African countries.
“This new plant is a renewed testament to Alhaji Aliko Dangote’s widely acclaimed patriotism and the leadership of Dangote Industries Limited.” It also demonstrates their commitment to our country’s socioeconomic development and people’s well-being.
“The Group’s investment in integrated cement plants, which span the value chain from quarry to bagging, has effectively ended Nigeria’s reliance on imported cement.”
“Dangote Industries Limited, along with its subsidiaries, has created thousands of jobs in Nigeria.” After the Federal Government, it is the country’s second largest employer of workers.
“This is very encouraging because private sector job creation is critical to security because it keeps thousands of young people off the streets,” he said.
Dangote fertilizer plant to export to U.S., India, Brazil
On the plant’s other advantages, the President expressed delight that, with the start of exports to countries such as the United States, India, and Brazil, Nigeria is already reaping significant financial benefits from the excess production and export of the plant.
He noted that the Dangote fertilizer plant start-up had created enormous opportunities in the areas of job creation, trade, warehousing, transportation, and logistics, all of which would generate significant wealth, reduce poverty, and help secure the country’s future.
We expect a boom in the agricultural sector, which is another focus of our economic policy, because fertiliser is now available in greater quantities and of higher quality.
“Many Nigerians who previously relied on subsistence farming due to a lack of necessary inputs can now pursue agriculture as a business.”
“We anticipate the emergence of a new breed of agropreneurs who will add value to farming and help the country become food self-sufficient,” he said.
President Buhari took advantage of the opportunity to reassure Nigerians that his government is committed to creating an enabling environment for the private sector to thrive, promising to continue improving infrastructure, power, and security while also enacting relevant laws and regulations to encourage investment.
‘Under Presidential Order No. 7, we are partnering with the private sector in the rehabilitation of roads across Nigeria through a tax credit scheme.
“As we all know, good roads facilitate the movement of goods and services across the country, lowering business costs and increasing productivity.
“We’re also rehabilitating and building new railway lines to relieve traffic congestion on our roads and create more effective multi-modal transportation networks,” he said.
“I am looking forward to returning later this year to officially open the refinery and petrochemical plant.”
“Projects of this size and complexity necessitate the participation and collaboration of a large number of people and organisations. I am grateful to each and every one of them.
“I would like to thank the Central Bank of Nigeria, Development Finance Institutions, and Local and Foreign Commercial Banks in particular for assisting the investor in making these projects a reality,” the President said.
President Buhari praised Mr Dangote for helping to rebrand Nigeria through his massive investments across Africa, saying:
“He has aided in the creation of jobs and the transformation of several African economies.” I am proud of his role in reaffirming Nigeria’s leadership position on the continent, and I wish him continued success.”
Following the historic inauguration, President Buhari toured the Dangote Free Trade Zone Complex, which includes the Group’s 650,000 barrels per day petroleum refinery and 900,000 tonnes per annum polypropylene plant.
Mr Dangote stated in his remarks that the fertiliser complex, which spans 500 acres and cost $2.5 billion to construct, will significantly reduce unemployment and youth unrest in the country by creating direct and indirect jobs.
“Agriculture contributes over 20% of Nigeria’s GDP, and the country is a major producer of a variety of agricultural products. The sector has the potential to become our country’s largest source of revenue, providing jobs and raw materials for industries.
“However, low fertiliser usage has been a major contributor to the sector’s low productivity. It is common knowledge that the primary constraint to fertiliser use is a lack of product availability, both in quantity and quality, rather than affordability.
“Our goal is to make sufficient quantities and quality fertiliser available to our teeming farmers, ensuring greater agricultural output,” he said.
President Buhari was thanked profusely by Dangote Industries’ Chief Executive for his unwavering support and encouragement, as well as for accepting the invitation to personally inaugurate the plant.
He also praised the leaders of the host communities and their people for creating a peaceful and conducive environment for the project to thrive, praising the Dangote Group’s Management and Staff for their dedication to high performance, perseverance, and resilience over many years of enthusiastic teamwork, labour, toil, and sweat.
Former governor of Lagos State, Bola Tinubu, was instrumental in the establishment of the fertiliser plant and refinery, according to Babajide Sanwo-Olu, the state’s governor.
“Our leader Asiwaju Bola Ahmed Tinubu conceived the idea of establishing a free zone in Ibeju Lekki.
“I was with him in China in 2003 when we were trying to think of a free zone, and this is where we are now.”
“Not only is the free zone home to Africa’s largest fertiliser plant, but it will almost certainly be home to Africa’s largest refinery,” Mr Sanwo-Olu said.
He thanked the President for visiting Lagos, and said he hoped to see him again in a few months to commission more projects.
President’s Senior Special Assistant
(Publicity & Media)
22nd of March, 2022.
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