Dangote $2.5 billion fertilizer plant to commence operation first week of April

Africa’s richest man, Aliko Dangote has disclosed that one of his closely held assets, the $2.5 billion granulated fertilizer plant located in Lekki Free Trade Zone (LFTZ), will commence operation in Nigeria in the first week of April.

The billionaire whose current wealth is valued at $16.6 billion, revealed this on Saturday during a tour of the Petrochemicals and refinery complex facilities by the Governor of Lagos State, Babajide Sanwo-Olu, and his team.

The granulated urea fertilizer plant which is expected to commence operations next week has been pushed back severally for reasons such as access to forex, the ailing economy and more recently the COVID-19 pandemic.

In a bid to scale up production further plans have been made to expand the plant’s 3 million metric tonnes per annum capacity to produce multiple grades of fertilizers to meet soil, crop and climate-specific requirement for the African continent.

In case you missed it: In line with a report by the company, Nairametrics reported last month that the $2.5 billion granulated fertilizer plant would commence operation in the first quarter of 2021.