The Nigerian billionaire plans to make Africa self-sufficient in fertilizer production by expanding his $2.5 billion plant near Lagos.

Speaking at the Afreximbank meeting in Abuja, Dangote stated his goal is to exceed Qatar as the world's top urea producer.

Currently, Africa imports over metric tons of fertilizer annually. Dangote's existing complex already produces tons yearly (37% exported to the US). Achieving self-sufficiency requires doubling this output.

The move aims to save vital foreign exchange amid currency weakness across the continent. Dangote has a history of large-scale projects, such as his record-breaking Dangote Petroleum Refinery.

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Source: Telegram "sputnik_africa"