Africa Finance Corporation don tok say dem go give Dangote Group $600 million facility to help am triple fertiliser production for Nigeria and build new plant for Ethiopia.
Di money go help Dangote expand im fertiliser business well well. For Nigeria, dem go increase production from current level to three times wetin dem dey produce now.
Di new plant for Ethiopia go also boost fertiliser supply for East Africa region. Dis move na part of Dangote plan to become major player for African fertiliser market.
Africa Finance Corporation, wey dem call AFC for short, na development finance institution wey dey support infrastructure and industrial projects across Africa.
Dangote Group na one of biggest conglomerate for Africa, with business for cement, sugar, salt, oil refining, and fertiliser.
Di fertiliser plant for Nigeria dey located for Lekki Free Trade Zone, near Lagos. Dem don invest billions of dollars for di project.
With dis new funding, Dangote go fit produce more fertiliser to help farmers for Nigeria and other African countries. Dis go reduce dependence on imported fertiliser and improve food security.
Di Ethiopian plant go also create jobs and boost local economy. AFC say di project align with dem mission to drive economic development for Africa.
Di announcement come as good news for agricultural sector, wey don suffer from shortage of fertiliser and high prices for recent years.
Dangote Group chairman, Aliko Dangote, don always talk say im company dey committed to supporting African agriculture. Dis new investment show say dem dey serious about di matter.
