The Dangote Group has announced that its $2 billion Granulated Urea Fertiliser plant at Ibeju Lekki, Lagos, would begin operation in May, 2020.
Concise News understands that Granulated Urea Fertiliser plant is the biggest in the world.
The company’s president and Africa’s richest man, Aliko Dangote, made this known Saturday when he led the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, on a tour of the Dangote Refinery, Petrochemicals and Fertiliser projects.
Dangote said it would make Nigeria the only Urea exporting country in Sub-Saharan Africa.
Dangote also disclosed that the refinery project, which was 48 per cent completed, would make Nigeria the largest exporter of petroleum products in Africa.
”One of the reasons the CBN is supporting us is that by the time we become operational, we will not only be creating jobs, but we will reduce the outflow of foreign exchange; not only in petroleum products, but in petrochemicals and fertilisers,” he said.
“We will be one of the highest foreign exchange generating companies going forward.
“I must really confess that without the government’s support, there is no way we could have done what we have done so far.
“I think we must thank President Muhammadu Buhari for his policies. I thank the CBN governor and management for bringing down interest rates to encourage more entrepreneurs to go into mega projects like this.
“We should not wait for foreign investors to come and develop our economy.
“It will never happen. So we have to do it ourselves and the only way to do it is to take advantage of the low interest rates, and the banks being forced to loan money out.”
. Dangote Reveals When World Biggest Fertiliser Plant Will Begin Work Follow Concise News.