Dangote Industries Limited plans to take its fertiliser business public in 2028, as the group ramps up production and expands across Africa in a bid to become the world’s largest fertiliser company.
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, disclosed the plan during an interview at the Qatar Economic Forum, powered by Bloomberg, where he discussed the group’s fertiliser expansion and plans to increase production capacity across the continent.
Dangote said the company’s urea production would rise from 3 million tonnes to 12 million tonnes, while the group is also developing sources of other key fertiliser inputs, including potash and phosphate.
“We are now going from 3 million tons to 12 million tons of urea. We are opening up potash mines. We are opening up phosphate mines, and we are also doing 2.2 million tons of DAP,” Dangote said.
The expansion is aimed at strengthening fertiliser supply in Africa and reducing the continent’s dependence on imports.
Asked when the fertiliser business would be listed on a stock exchange, Dangote confirmed that the company plans to conduct an initial public offering (IPO) in 2028.
He also said the business is being positioned to become the world’s largest fertiliser company.
“Oh yes, I mean, we will IPO it. It will be the biggest fertiliser company on Earth. Yes, it will be 2028,” he said.
Dangote said the expanded business could supply more than 40 per cent of Africa’s fertiliser demand, while helping ensure availability throughout the year rather than concentrating supply around planting seasons.
Dangote linked the expansion partly to disruptions in global fertiliser supplies following the Russia-Ukraine war, which exposed Africa’s dependence on traditional international suppliers.
He recalled that the African Union had sent then-chairman and Senegalese President Macky Sall to seek assistance during the early stages of the conflict because African countries were facing fertiliser shortages.
The experience, he said, reinforced the need to expand local and regional production capacity.
The company is therefore increasing urea production while developing domestic and regional sources of potash and phosphate, key inputs used in fertiliser manufacturing.
Dangote also said the African Development Bank has provided a $6 billion credit line that can be used for petroleum products or fertiliser.
Dangote Fertilizer currently operates a 3 million-tonne-per-year granulated urea and ammonia plant in Lagos, described as Africa’s largest granulated urea facility.
The company has also expanded its international market presence, exporting a significant portion of its output to markets including the United States.
The planned expansion comes as geopolitical disruptions continue to affect global fertiliser supply chains, increasing the importance of producers capable of supplying large volumes to both domestic and international markets.
Dangote has previously said the fertiliser business aims to surpass Qatar as the world’s largest urea exporter within four years.
