In a bid to make food sufficient for Nigerians Dangote Refinery currently under construction, has launched a fertilizing Urea Plant.
The 3 million metric tones per annum capacity Dangote fertilizing Urea Plant, located at Ibeju Lekki Free Trade Zone, within the periphery of the Dangote Refinery recently launched by President Muhammadu Buhari and other stakeholders.
My Cookery Zone gathered that the timely inauguration of the plant would allow pumping a fresh 3 million tonnes of granulated urea into the country and the world supply amid the impact of increasing prices in the aftermath of the Russia-Ukraine war.
Data from the United Nations Commodity Trade Statistics Database (COMTRADE) on international trade says, as of 2020, Nigeria’s imports of Fertilizers were $261.69m.
However, With the current economic malaise facing Nigeria and which has decimated foreign exchange intake, the Dangote Fertiliser would be reversing an unsavoury trend in Nigeria’s balance of trade in which hundreds of millions of dollars is expatriated on fertilizer import annually.