The President, Major General Muhammad Buhari, (Rtd) on Tuesday, inaugurated the $2.5bn Dangote Fertilizer plant in Lagos. The plant has capacity to produce three million metric tonnes of fertilizer yearly.
The President, who expressed happiness over the multi-billion-dollar plant, also said the plant would reduce the nation’s dependence on the import of fertiliser. He said nation stands to enjoy a boom in foreign exchange through the exportation of the product.
The president also explained that the plant would help further the administration’s drive towards achieving self-sufficiency in food production. He said, “I am delighted to commission this Dangote Fertiliser plant which has the capacity of producing three million metric tons of Urea per annum which makes it the second of such plants in the world”
“This is expected to further our administration drive towards achieving self-sufficiency in food production, in the country. I commend the chairman, board and management of Dangote Industries Limited for their business initiative in bringing this plant which will help in reducing the importation of fertilizer, create jobs and increase the inflow of foreign exchange and accelerate economic growth”.
