NEWS
Dangote Expects over $4bn Annual Forex Earnings from Fertiliser Exports
The Dangote Group has reinforced its long-standing partnership with the Africa Finance Corporation (AFC) through the signing of a $600 million loan facility to support the expansion of its fertiliser production capacity, an important milestone in advancing food security across Nigeria and the African continent.
The financing, extended to GreenView Fertilizer Corporation (Greenview), the Dangote Fertiliser Holding Company, will partly fund the expansion of urea production capacity in Nigeria as well as the development of a new fertiliser plant in Ethiopia.
This investment forms a key component of the Dangote Group’s broader $7 billion fertiliser expansion programme. The initiative is expected to increase production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while also supporting the establishment of a new 3 MTPA urea plant in Ethiopia. Upon completion, the programme will significantly boost Africa’s fertiliser output, strengthen regional food security, enhance agricultural productivity, and reduce dependence on imports.
The facility underscores AFC’s strong confidence in Dangote Group’s vision to drive industrial growth and agricultural transformation through large-scale infrastructure investments. The funds will primarily support the ongoing expansion of the Dangote Fertiliser Plant at Ibeju-Lekki, Lagos, one of the largest granulated urea fertiliser complexes in the world.
The expansion is expected to substantially scale up production, improve supply chain efficiency, and ensure consistent availability of high-quality fertilisers to farmers across the continent. It will also contribute to price stability, reduce import dependency, and enhance crop yields, strengthening Africa’s overall food security framework.
Speaking on the development, President of Dangote Group, Aliko Dangote, said the expansion would generate significant foreign exchange earnings for Nigeria. “This investment positions us to deliver over $4 billion annually in fertiliser exports within the next three years. It represents a major contribution to Nigeria’s foreign exchange earnings and underscores our commitment to national economic growth.
“Our growth vision is not in isolation, we are building alongside strategic African partners like AFC and other institutions committed to the continent’s progress.”
Also commenting on the transaction, President and CEO of Africa Finance Corporation, Samaila Zubairu, highlighted the strategic importance of the deal: “This transaction reflects AFC’s capital recycling model in action. Following the successful repayment of our earlier investment in Dangote Industries Limited, we are reinvesting and doubling that capital into Dangote Group’s next growth phase.
By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial leader whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent.”
This development builds on AFC’s strong track record of successful investments and exits across Africa, including projects in renewable energy, port infrastructure, digital connectivity, and industrial platforms.
ALSO READ: Food Security: AFC Deepens Partnership with Dangote Group with $600m Loan for Fertilizer Expansion
The Dangote Fertiliser Plant currently plays a critical role in meeting domestic demand while exporting to international markets, thereby generating valuable foreign exchange for Nigeria. With this new phase of expansion, the company is poised to consolidate its leadership position in the global fertiliser market while advancing Africa’s agricultural and economic resilience.
NEWS
FG Aims to Finish Olobiri Museum in 2028
The Federal Government is committed to completing the the Oloibiri Museum and Research Centre (OMRC) by 2028.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the disclosure during an inspection of the project in Otuabagi, Ogbia Local Government Area of Bayelsa State.
Lokpobiri expressed pleasure with the pace of construction, adding that the facility would preserve the history of Nigeria’s petroleum industry while serving as a major centre for research, tourism and industry events.
“I am very happy that I came today to see what is going on here. This is a masterpiece. The main building itself is over 10,000 square metres,” the minister said, noting that the museum and research centre would provide Nigerians and international visitors with a better understanding of the origins and evolution of the nation’s oil and gas industry, including its achievements, challenges and prospects.
The facility, he further said, will also create opportunities for conferences, exhibitions, retreats and research activities in the petroleum sector, even as he praised the quality of the work done so far and Julius Berger’s pace of work at the site.
READ ALSO: Dangote Reveals Date for Much-Awaited Refinery IPO
The minister also emphasised that the Federal Government will continue to give financial support to the project to ensure seamless execution while pledging to maintain close oversight of the project through regular visits, including unscheduled inspections, and praised Julius Berger for the quality of work completed so far, just as he appealed to the host community to sustain their cooperation with the contractors and other stakeholders to guarantee the successful delivery of the project.
Speaking on behalf of the contractor, the Project Manager, Engr. Botha de Bruyn, reaffirmed the company’s commitment to delivering the project in line with approved specifications and timelines.
He said Julius Berger recognised the historical significance of the facility and would continue to work closely with the Federal Government, the project management team and the host community to ensure its successful completion.
De Bruyn also reiterated the company’s commitment to maintaining the highest standards of quality, safety and professionalism throughout the construction process.
Providing an update on the development, the Project Director of the Oloibiri Museum and Research Centre, Architect Ladipo Lewis, said the project was conceived to recognise Otuabagi as the birthplace of Nigeria’s petroleum industry.
He explained that the facility would document and preserve the history, culture, environment and technological evolution of the oil and gas sector, while also serving as a hub for research, training and knowledge sharing.
Lewis disclosed that the project had attained over 15 per cent completion, with significant infrastructure works already executed.
International News
Tanzania in Mourning as President Samia Loses Husband
Tanzania is mourning following the death of Hafidh Ameir Hassan, husband of President Samia Suluhu Hassan, who died on Monday while receiving treatment at a hospital in Zanzibar.
The death of Tanzania’s First Gentleman was officially announced by Vice-President Deogratius Ndejembi, according to the BBC.
Ndejembi said Ameir had been suffering from a heart condition and died at about 8am local time at the Emilio Mzena Memorial Hospital in Zanzibar.
SEE ALSO: Tanzania Eyes Expanded Dangote Investments in Fertiliser, Energy, Infrastructure
He added that funeral arrangements were underway in Kizimkazi, a village on Zanzibar.
Ameir, an agricultural academic, largely kept a low public profile and rarely appeared alongside his wife at official events.
He became Tanzania’s first First Gentleman after Samia assumed the presidency in March 2021.
The couple married in 1978, before Samia entered national politics, and had four children — three sons and a daughter.
Their daughter, Wanu Hafidh Ameir, is a politician and serves in Zanzibar’s House of Representatives.
Ruto, AU mourn First Gentleman
Kenyan President William Ruto expressed his condolences to President Samia and her family following the death.
In a message posted on X on Monday, Ruto said, “I have received with deep sorrow the news of the passing of Hafidh Ameir Hassan, husband of Her Excellency Dr Samia Suluhu Hassan, President of the United Republic of Tanzania.”
He added, “President Samia has lost a lifelong companion, her children a beloved father, and Tanzania a distinguished son.”
Ruto further said, “Kenya stands with our Tanzanian brothers and sisters in this moment of grief,” while praying for the bereaved family.
The African Union Commission Chairperson, Mahmoud Ali Youssouf, also extended his condolences to President Samia, her family and the people of Tanzania.
In a statement issued on Monday, Youssouf said the AU conveyed its “deepest condolences” over the passing of Hafidh Ameir Hassan and wished the bereaved family “strength, courage and solace.”
The AU Chairperson also prayed for the peaceful repose of the deceased, concluding, “Inalilahi wainailehi rajiun.”
International News
US Fuel Crisis Deepens as Diesel Prices Hit Record High
The average price of diesel in the United States has climbed to a record high, adding to growing pressure on businesses and consumers as disruptions to fuel supplies continue amid the war involving the United States, Israel and Iran.
According to the American Automobile Association (AAA), diesel prices reached a new record on Monday, rising by about 30 cents from the average recorded just one week earlier.
SEE MORE: DPRP Slashes PMS to ₦1,165/Litre, Diesel to ₦1,570/Litre
Diesel is widely used in road transportation, agriculture and construction, making the sharp increase a major concern for truckers, farmers and other businesses that rely heavily on the fuel.
The latest surge comes as the ongoing conflict has disrupted tanker shipments through the Strait of Hormuz, contributing to tighter fuel supplies and higher energy costs.
Diesel prices have risen substantially compared with a year ago, when the national average stood at $3.71 per gallon.
The increase is putting additional financial pressure on farmers and trucking companies, which may eventually pass higher operating costs on to consumers.
The rise in diesel prices is also adding to broader concerns over the cost of living in the United States and could pose a political challenge for President Donald Trump ahead of the November midterm congressional elections.
Meanwhile, average regular gasoline prices also rose significantly, reaching $4.15 per gallon on Monday, compared with $3.20 a year earlier.
Fuel prices were even higher in some western states, with regular gasoline averaging $5.86 per gallon in California and $4.54 in Arizona, according to AAA.
The continued increase in fuel costs comes as millions of Americans travel during the Labor Day holiday period, potentially placing further pressure on household and business budgets.





