Nigerian giant Dangote announced yesterday that it is considering purchasing phosphate from Morocco and potash from Congo (Brazzaville) to supply a planned fertilizer plant, Aliko Dangote stated during a business forum held in Lagos.
In the agricultural sector, he also announced his intention to produce 1 million tonnes of rice within 5 years, while the country currently imports 2.8 million tonnes. Africa’s richest man reiterated that the group’s ambition is firmly focused on import substitution across all sectors.
It is worth recalling that the African giant raised $3.3 billion in loans, in addition to $3.5 billion in equity, to develop a petrochemical complex and an oil refinery (capacity of 650,000 barrels per day) worth $9 billion by 2018. The group is also building a subsea gas pipeline to transport 1.5 billion cubic feet of gas per day from the Delta region to the rest of West Africa.