By Ambrose Nnaji
Africa’s foremost industrial conglomerate, the Dangote Group, is on track to become the world’s largest producer of fertilizer by 2028, according to its Chairman, Alhaji Aliko Dangote. He made the disclosure at the Imo Economic Summit held in Owerri.
Dangote said the group is accelerating an aggressive expansion strategy that will raise its urea production capacity from 3 million metric tons to 12 million metric tons within four years—placing Nigeria at the forefront of the global fertilizer market.
He emphasised that Africa must now assert its place in global commerce and industrial growth, noting that the continent’s development will only be achieved through bold local investments.
“The time has come for Africans to step into greatness. We will top global fertilizer production by 2028 because we are expanding capacity from 3 million to 12 million tons,” he said.
Dangote urged African investors to prioritise investments within the continent, arguing that foreign capital often follows the confidence demonstrated by local entrepreneurs.
“Only a local investor can convince a foreign investor to invest in his home. There is no place like home,” he said.
He also revealed ongoing efforts to double the group’s domestic investments—including plans to scale up operations to 1.4 million barrels per day in the energy sector—while calling for stronger private-sector interventions in electricity generation.
The summit also featured notable global leaders. Former President of Mauritius, Ameenah Gurib-Fakim, noted that Africa’s youthful population and its 30% share of the world’s mineral resources offer a foundation for long-term economic transformation.
“It is time for Africa to take her destiny in her hands,” she said.
President Bola Tinubu, represented by Vice-President Kashim Shettima, declared the event open. Former United Nations Secretary-General Ban Ki-moon also graced the summit, underscoring its international significance.
