The 3 million-ton facility near Lagos, the commercial hub, adds to existing output of 3.1 million tons in the West African nation, according to the central bank. The biggest plant of its kind in Africa, owned by billionaire businessman Aliko Dangote, is already shipping to the U.S., India, and Brazil.
“This fertilizer plant is expected to further advance our administration’s drive toward achieving self-sufficiency in food production in the country,” President Muhammadu Buhari said at a ceremony in Lagos on Tuesday. “The nation also stands to gain extensively in earnings of foreign-exchange from the excess production and exports from the plant.”
The commissioning of the plant comes as prices for crop nutrients surge because Russia’s war with Ukraine has put a massive portion of the world’s fertilizer supply at risk.
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