Nigeria’s Dangote Group has secured more than $600 million (approximately 330 billion CFA francs) in financing from the Africa Finance Corporation (AFC) to accelerate the expansion of its fertilizer production capacity across Africa, in a move aimed at strengthening the continent’s food security and industrial self-sufficiency.

The funding will support the group’s ambitious program to significantly increase urea production capacity in Nigeria, while also financing the development of new fertilizer infrastructure, including a planned production facility in Ethiopia, according to industry sources familiar with the deal.

The financing package is expected to play a key role in scaling up Dangote’s fertilizer operations, positioning the conglomerate as one of the largest producers of nitrogen-based fertilizers on the continent. The expansion comes amid growing demand for agricultural inputs in Africa, where governments are seeking to reduce dependence on imported fertilizers and improve domestic food production.

The Africa Finance Corporation, a leading infrastructure and development finance institution focused on Africa, said the investment aligns with its strategy of supporting large-scale industrial projects that enhance regional value chains and food security.

Dangote Group, owned by Nigerian billionaire Aliko Dangote, has already established one of the largest fertilizer complexes in West Africa, with production capacity that has been ramping up in recent years.

The planned expansion is expected to more than triple Nigeria’s urea production capacity once fully operational, strengthening the country’s position as a regional supplier of fertilizers to African and international markets.

Analysts say the investment reflects a broader trend of African industrial champions expanding into strategic sectors such as agriculture, energy, and manufacturing, as governments push for greater economic resilience and reduced reliance on imports.

The timing of the financing also comes as global fertilizer markets remain volatile, underscoring the strategic importance of local production capacity in ensuring stable supply for farmers across the continent.

If fully implemented, the project could significantly reshape Africa’s fertilizer landscape, boosting agricultural productivity and supporting long-term food security goals across multiple countries.