Constructed at the cost of $2.5 billion, the fertiliser complex is built on a 500 hectare expanse at Lekki Free Trade Zone in Ibeju Lekki, Lagos and ranks as Africa’s largest granulated fertiliser complex.
The plant, one of the latest bets of Africa’s wealthiest man Aliko Dangote, is situated in the same area where his 650,000 barrels per day oil refinery is being constructed.
The complex is due for commissioning by President Muhammadu Buhari on Tuesday.
Nigeria, Africa’s most populous nation, currently has one of the lowest fertiliser applications on the continent at 20 kilogramme per hectare according to the World Bank, lagging behind peers like Egypt and South Africa.
The country’s recommended fertiliser use per hectare stands at 100 kilogramme.
As Nigeria’s fertiliser need is anticipated to reach between 5 to 7 million metric tonnes in the years ahead, the company is hoping to bridge an 80 per cent supply gap currently covered by importation.
Analysts anticipate Dangote Fertiliser Plant to contribute about $400 million in foreign exchange earnings to the economy by way of exported products on completion.
“The coming on stream of Dangote Fertiliser would surely make Africa self-sufficient in food production and a net exporter of food to the world,” the company said.
Fertiliser from the plant could help curb the acutely low yields in Nigeria, a situation partly resulting from limited access to the product.