Tinubu extends vacation abroad, announces return

Aliko Dangote announced plans for his fertiliser business to become the world's largest and for the IPO to occur in 2028. During a Qatar Economic Forum interview, Dangote discussed the expansion of his fertiliser business and the group's goals to boost production across Africa. He attributed this growth to the disruption in global fertiliser supplies caused by the Russia-Ukraine war and Africa's heavy reliance on imported fertilisers.

The expansion includes increasing urea production and securing alternative sources of key fertiliser components like potash and phosphate. Dangote's fertiliser company, Dangote Fertilizer, currently operates a 3 million-ton-per-year granulated urea and ammonia plant in Lagos, which is Africa's largest facility of its kind. The company has also expanded its presence in international markets, exporting a significant portion of its production to locations such as the United States.

Dangote's plans extend beyond Nigeria, with a new plant expected to be completed in 40 months and capable of producing 3 million tons of fertiliser annually. This new plant will be linked to natural gas fields in southeastern Ethiopia, aligning with Dangote's strategy to enhance fertiliser production across Africa and decrease the continent's dependence on imported fertilisers.