Mr. Dangote will pay $17.5 billion for the urea and ammonia fertilizer plant, as well as a 650,000 barrels per day oil refinery nearby.
President Muhammadu Buhari officiated at the ribbon-cutting ceremony for the Dangote Fertiliser Plant, which has a nameplate capacity of 3 million metric tonnes per annum and is located in Ibeju Lekki, Lagos.
In the presence of dignitaries such as Aliko Dangote, president of Dangote Industries Limited, Lagos State Governor Babajide Sanwo-olu, Central Bank of Nigeria Governor Godwin Emefiele, and Minister of Trade and Investment Niyi Adebayo, the president launched the $2.5 billion project.
The urea and ammonia fertiliser plant is the largest of its kind in the world, and it will cost Africa’s richest man $17.5 billion when combined with a 650,000 barrels per day oil refinery nearby, Mr Emefiele said at the event.
The refinery is scheduled to open later this year.
In March 2020, a test run at the facility began in the hope that production would begin later that year. However, due to disruptions caused by the pandemic outbreak, that did not occur until the first quarter of 2021.
President Muhammadu Buhari officiated at the ribbon-cutting ceremony for the Dangote Fertiliser Plant, which has a nameplate capacity of 3 million metric tonnes per annum and is located in Ibeju Lekki, Lagos.
In the presence of dignitaries such as Aliko Dangote, president of Dangote Industries Limited, Lagos State Governor Babajide Sanwo-olu, Central Bank of Nigeria Governor Godwin Emefiele, and Minister of Trade and Investment Niyi Adebayo, the president launched the $2.5 billion project.
The urea and ammonia fertilizer plant is the largest of its kind in the world, and it will cost Africa’s richest man $17.5 billion when combined with a 650,000 barrels per day oil refinery nearby, Mr Emefiele said at the event.
The refinery is scheduled to open later this year.
In March 2020, a test run at the facility began in the hope that production would begin later that year. However, due to disruptions caused by the pandemic outbreak, that did not occur until the first quarter of 2021.
