Chinazor Megbolu –
The Dangote Group has announced that its fertilizer plant will resume operation this week.
The Chairman, Dangote Group, Alhaji Aliko Dangote, disclosed this at the weekend, saying the $2 billion granulated urea fertiliser plant sited at Ibeju Lekki, Lagos, will soon begin operations.
Dangote, who said this during a tour of the facilities by the Lagos State Governor, Babajide Sanwo-Olu, also hinted that the refinery plant will be completed later this year and production will commence first quarter 2022.
He added that the fertiliser plant has a name-plate annual capacity of three million tons of urea and ammonia — largest in the world.
The Dangote fertiliser company, once it resumes operation,will be the only urea exporting country in Sub-Saharan Africa.
Dangoted pointed out that both the fertiliser and petrochemicals plants are capable of generating $2.5 billion yearly.
Meanwhile, the Central Bank of Nigeria (CBN), Mr. Godwin Emeiele, also noted that there are strategy in place towards enabling the Dangote Refinery sell refined petroleum products in Nigeria currency when it commences operation.
He added that such move will save the country foreign exchange.
According to him; “I am saying that by this time next year, our cost of import of petroleum products for petrochemicals or fertiliser will be able to save that which will save Nigeria’s reserve”.
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