On Tuesday, Africa's richest person, Aliko Dangote, opened in Nigeria the continent's largest fertilizer plant. Demand is already knocking at the door.

"People are begging us to sell," Dangote told CNN on Tuesday.

Sitting on 500 hectares (1,235 acres) of land on the outskirts of Lagos, the $2.5 billion fertilizer plant has an initial annual production capacity of 3 million metric tons of urea fertilizer, according to information on the Dangote Group's website.

The opening of the Dangote Fertiliser Plant came amid a supply crunch in crop fertilizers due to sanctions against Russia, which accounted for almost one-fifth of fertilizer exports in 2021, according to Trade Data Monitor and Bloomberg's Green Markets. Russia is also a top exporter in key fertilizer ingredients such as urea, ammonia, and potash, according to the trade outlet Argus Media.

The supply strain has sent fertilizer prices soaring, with Bloomberg's Green Markets North America Fertilizer Price Index surging to record highs. This, in turn, is expected to feed into already soaring food prices.

"We are lucky to have this plant," Dangote told CNN. "It is coming at the right time with the Ukraine-Russia conflict as both Ukraine and Russia control substantial amounts of agricultural inputs."

Dangote's fertilizer plant is already shipping to the US, Brazil, and India, CNN reported, citing the billionaire.

Dangote, 64, is the 80th-richest person, with a net worth of $20 billion, according to the Bloomberg Billionaires Index. The Dangote Group, which he founded, is the second-largest employer in Nigeria after the government, the country's Vanguard News outlet reported recently, citing the Nigerian president.

The Dangote Fertiliser Plant is expected to create 5,000 direct and indirect jobs, Vanguard News reported, citing a government official.

Amid the war in Ukraine, resource-rich African economies are tipped to benefit from sweeping sanctions against Russia, the third-largest oil producer.

"As the European Union and the United States impose sanctions to deny Russia access to European oil and gas markets, oil-producing African countries could seize on the opportunity," Mvemba Phezo Dizolele, the director of the Africa Program at the Center for Strategic and International Studies, wrote in a recent note. Oil companies may also expand prospecting operations on the continent, he added.


https://www.google.com/amp/s/www.businessinsider.com/africa-richest-man-opens-fertilizer-plant-ukraine-war-disruption-begging-2022-3%3famp

Yet Nigerians are suffering.

You are shipping out while Nigeria is almost gone.
Ingrates everywhere
Split

Hmmm

He will ship it out then repackage it back with another label name back to Nigeria to sell on high price nobi gay Dangota again imagine even when we produce Cement yet is more costly here than in Rewanda

While Northerner are Shipping Fertilizer and other goods to US, Brazil, UK, India, China etc. Nnamdi Kanu's People are exporting drugs to other foreign Countries

i too love this man ALHAJI ALIKO DANGOTE thank God he is not igbo sha we no for breathe

There's so much hate from some folks up there, guess who they are?

Pakute:
There's so much hate from some folks up there, guess who they are?

Dont mind them.Make Russia do quick for Ukraine come help us divide Nigeria make nyanmrins and Fulani leave our country.

Ok

DEROX:
i too love this man ALHAJI ALIKO DANGOTE thank God he is not igbo sha we no for breathe

Shameless people,you are happy dangote is investing heavily in Lagos and employing your people, how many Yoruba's has ever left there region to invest in other places so that it benefits others,talk about real parasites!!!
Nigerians of other tribes believes more in Nigeria than Yoruba's,Yoruba's are too myopic and clannish,they hardly go outside Lagos to invest.

AustineE1:

Shameless people,you are happy dangote is investing heavily in Lagos and employing your people, how many Yoruba's has ever left there region to invest in other places so that it benefits others,talk about real parasites!!!
Nigerians of other tribes believes more in Nigeria than Yoruba's,Yoruba's are too myopic and clannish,they hardly go outside Lagos to invest.

lol we know the economic refugees, mike adenugas glo employs more nigerians than any business of your igbo people same as fcmb,gtb and others so just stfu but wait, why dangote no get investment for sad east wailers