Chairman of Dangote Group, Aliko Dangote has stated that the
$2 billion granulated urea fertiliser plant located at Ibeju Lekki, Lagos will
begin operations next week.
This was announced by Aliko Dangote on Saturday during a
tour of facilities by Babajide Sanwo-Olu, governor of Lagos, at the Lekki Free
Trade Zone and Dangote petrochemical refinery facilities.
The billionaire businessman also disclosed that the refinery
plant will be completed later this year and production will commence first
quarter 2022.
The fertiliser plant has a name-plate annual capacity of
three million tons of urea and ammonia — largest in the world.
It is also being constructed in the Lekki Free Trade Zone
area which houses other plants and factories including the 650,000 barrels per
day Dangote Refinery and Lekki Port.
This makes Nigeria the only urea exporting country in
Sub-Saharan Africa, both the fertiliser and petrochemicals plants are capable
of generating $2.5 billion annually.
Godwin Emeiele, governor of the Central Bank of Nigeria, had
assured that arrangements have been to enable the Dangote Refinery sell refined
petroleum products in naira when it commences production which will save
foreign exchange for the country.
“I am saying that by this time next year, our cost of import
of petroleum products for petrochemicals or fertiliser will be able to save
that which will save Nigeria’s reserve,” Emefiele had said.
The opening of the fertilizer plant has been pushed back
severally for several reasons such as access to forex, the ailing economy and
more recently the COVID-19 pandemic.
The newly completed fertilizer complex, located at the Lekki
Free Zone (LFZ), in Lagos State.
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