President Muhammadu Buhari Tuesday, in Lagos, has commissioned Dangote Fertilizer plant built at a cost of $2.5 billion.
The plant which is located at Ibeju Lekki
is built on 500 hectares of land, said to be the largest urea in Africa.
The World-class fertilizer plant has a capacity to produce 3 million metric tonnes (mt) of urea yearly.
Nigeria’s average fertilizer application of 20kg/ha, is regarded as the lowest in Africa, as it lags behind some other African countries, including South Africa and Egypt.
The usage rate stands at 200kg/ha, as the usage is directly related to crop growths.
Dangote fertilizer plant is expected to bridge the 80% gap being imported ok not the country.
Speaking at the event, Buhari said that the Dangote Group is the second largest employers of labour in Nigeria, after the federal government.
He noted that the fertilizer company was already exporting its product to other countries, including the United States, Mexico, India and Brazil.
The president added that the contributions of Dangote Industries have further affirmed Nigeria’s leadership in Africa.
Buhari said: “Dangote Group has been at the forefront of driving the nation’s industrialisation efforts with huge investments in diverse sectors, such as sugarcane plantation and refining, rice, salt and other allied products, vehicle assembly and logistics.
“The fertilizer plant we are commissioning today has the capacity to provide multiplier effects on our economy, including job creation, which is a key goal of my administration. The nation also stands to gain extensively in earnings of foreign exchange from the excess production of the plant. I am informed that we have already started exporting to USA, Brazil and India.
“The coming on stream of the plant is creating huge opportunities in the areas of employment, trade, warehousing, transport and logistics. This will drastically create wealth, reduce poverty and secure the future of our nation.
“In the agricultural sector, another focal point of our economic policy, we expect a boom as fertiliser is now readily available. Many Nigerians who hitherto practiced subsistence farming because of non-availability of necessary inputs can now take up agriculture as a business. We expect a rise of new breed of agropreneurs who will add value to farming, and make the nation self-sufficient in food production.”
In his welcome address, President of Dangote Group, Alhaji Aliko Dangote, said that the plant being commissioned is the largest granulated plant in Africa, and the second largest in the world.
Among dignitaries at the event were Lagos State Governor, Mr Babajide Sanwo-Olu; Senate President, Ahmed Lawan; House of Representatives Speaker, Femi Gbajabiamila; Presidential hopeful, Asiwaju Bola Tinubu; CBN Governor, Godwin Emefiele; several other serving and former Governors; Ooni of Ife and other traditional rulers, among others.