Nigeria: inauguration of the largest fertilizer factory in Africa

Nigerian President Muhammadu Buhari inaugurated a $2.5 billion fertilizer factory on Tuesday amid the impact of rising prices in the aftermath of the Russia-Ukraine war.

"Nigeria's dependence on imported products in the agricultural sector will soon be a thing of the past," the Nigerian leader said at the inauguration in Lagos , the commercial capital, of the expectations of the Dangote fertilizer plant , in addition to other agricultural initiatives , including incentives for farmers.

While the global fertilizer market has been shaken, the Governor of the Central Bank of Nigeria, Godwin Emefiele , believes that the inauguration of the plant is timely, as it has "helped Nigeria solve a eternal fertilizer problem" .

Agriculture is a lifeblood of Nigeria's economy , contributing 25.8% of its Gross Domestic Product (GDP) of N72.3 trillion in 2021. However, farmers are sometimes constrained by a restricted supply of fertilizers and improved seeds.

With the new fertilizer plant with a capacity of 3 million metric tons per year, Nigeria expects '' a boom as fertilizers are now readily available in greater quantity and better quality '', said Mr Buhari.

“ We expect the emergence of a new breed of agropreneurs who will add value to agriculture and make the nation self-sufficient in food production ,” he added, inviting many Nigerians to " get into farming now as a business ."

Fertilizers from the plant located in an industrial zone in Lagos will be exported to many countries including the United States, Brazil, India and Mexico, says Aliko Dangote, Africa's richest man and factory owner, amid shockwaves from Russia where an ongoing war with Ukraine has disrupted supplies.

Around the world, high fertilizer costs are already threatening farmers amid sanctions against Russia , one of the world's top fertilizer suppliers, where authorities in March asked domestic producers to temporarily stop exports.

“ The new plant will make Nigeria self-sufficient in fertilizer production with excess capacity to export to other African markets and the rest of the world ,” Dangote said, adding that the plant will also “significantly reduce the level unemployment rate" in the nation with 33% unemployment rate in December 2020.

“ Our goal is to make fertilizers available in sufficient quantity and quality for our many farmers, to ensure greater agricultural production, ” Mr. Dangote said of the fertilizer factory operations.