President Muhammadu Buhari has inaugurated the $2.5billion worth of three million metric tonnes per annum Dangote Fertiliser Plant.
The president, who inaugurated the plant at the Lagos Free Trade Zone, Lekki in Lagos, yesterday, said the project was in line with the government’s drive to ensure food sufficiency in the country.
“This is a demonstration of enhancing the socio-economic development of the country,” he said, while also commending the Dangote fertiliser team.
The president assured Nigerians that his government is focused on providing enabling environment for the private sector to thrive.
“We are partnering with the private sector through tax credit scheme on road constructions in the country and rehabilitating railway lines for ease movement of goods,” he added.
In his remarks, the President of Dangote Group, Aliko Dangote, expressed delight at the success of the fertiliser plant.
According to him, the plant is the largest in Africa and the second-largest urea plant in the world, adding that products from plants have reached the African market and across Brazil, India, and Mexico.
“It is an ambitious project that will reduce unemployment in Nigeria.
“Low fertiliser usages have been the reason for low yield of agriculture products in the sector.
“Our goal is to make fertiliser available in quantity for our farmers. We are rolling out initiatives that will transform the agric sector for all.
“This will boost productivity and enhance output across the nation,” he said.
Dangote appreciated the Central Bank of Nigeria (CBN) and other agencies of government for their support.
The phase one of the Dangote Fertiliser project, which is worth $2.5billion, is estimated to produce three million metric tonnes of urea per annum.
The company said the capacity of the plant will be expanded to produce multi grades of fertiliser to meet soil, crop, and climate-specific requirement for the African continent.