Dangote Fertiliser Limited says with the commencement of urea production in commercial quantity, there will be adequate supply for foreign exchange from the export of the product.
The plant is one of the biggest projects in the global fertilizer industry, the President of Dangote Group, Aliko Dangote, said.
“So, our urea will be in the market from Monday (yesterday) and by God’s grace before the end of this month, we will start bringing in dollars from the first line that we have commissioned,” he said.
Speaking recently during an inspection of the fertlilser production facility, Dangote told bankers and Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the factory estimated at $2.5 billion, would produce three million metric tonnes of urea.
According to him, the capacity will be expanded to produce multi-grades of fertilisers to meet soil, crop and climate-specific requirements for the African continent.
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Dangote added that the fertiliser plant would make Nigeria the biggest urea-exporting country in sub-Saharan Africa region as well as the biggest producer of polypropylene and polyethylene.
He said, “The three million tonnes of urea is certified, licensed by all regulatory authorities in Nigeria. We have received all licenses from the National Security Adviser, Ministry of Agriculture, Standards Organisation of Nigeria (SON) and NAFDAC, among others.
He pointed out that the urea equated with a small percentage utilisation of gas being flared in the country, adding that the company planned to flood the market with urea, having already collected a database of farmers.
He said this would also ensure adequate training of farmers on best application of the product, stressing that this would sustain farming activities and ensure food security in the country.
He urged the banking industry to support gas-based industries more in order that the country will have a regular supply of dollars and improve the economy.
