With Dangote’s $2.5 Billion Fertilizer Plant, Nigeria Will Experience Agricultural Boom – Buhari.

President Muhammadu Buhari yesterday commissioned the state-of-the-art Dangote Fertiliser Urea Plant with a capacity of three million metric tonnes per annum, expressing confidence that the project would boost Nigeria’s agricultural sector significantly.

The new plant is located at Ibeju Lekki, Lagos Free Trade Zone, on the outskirts of the Dangote Refinery, and was commissioned in the presence of 18 governors, ministers, captains of industry, and prominent traditional rulers.

According to the president, the plant’s start-up will create a slew of new jobs, trade, warehousing, transportation, and logistics opportunities.

According to the president, the plant “will greatly create wealth, drastically reduce poverty, and secure our nation’s future.”

“We expect a boom in the agricultural sector, another focal point of our economic policy, as fertiliser is now readily available,” he said. Many Nigerians who previously practiced subsistence farming due to a lack of necessary inputs are now able to pursue agriculture as a business. We anticipate the emergence of a new breed of agropreneurs who will add value to farming and make the country food self-sufficient.”

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According to him, the federal government is more determined than ever to create an enabling environment for private sector investors to thrive, and that his administration will continue to improve infrastructure, power, and security, as well as enact relevant laws and regulations to encourage economic investment.

President Buhari reiterated that part of the government’s effort in this regard included a tax credit scheme that partnered with the private sector in the rehabilitation of roads across Nigeria under Presidential Order No. 7.

“As we all know, good roads facilitate the movement of goods and services across the country, lowering business costs and increasing productivity. To reduce the burden on our roads and create more effective multi-model transportation networks, we are also rehabilitating and building new railway lines,” he added.

Aliko Dangote, the president of the Dangote Group, described the new plant as a game changer because it had the potential to make Nigeria self-sufficient in fertiliser production, with surplus capacity to export to other African and global markets.

He also stated that Dangote Fertiliser had already entered the markets of the United States, Brazil, and Mexico.

According to him, the fertiliser plant, Africa’s largest granulated urea fertiliser complex, covers 500 hectares of land, cost $2.5 billion to build, and is expected to significantly reduce unemployment and youth restiveness in the country by providing job opportunities. According to him, the plant will create new jobs by making high-quality fertilizer available in sufficient quantities to farmers.

Agriculture accounts for 20% of the country’s GDP, he said, and the new plant was an ambitious project that would provide both direct and indirect jobs, reducing youth unrest.

According to him, Dangote Fertiliser will usher in a new era of agricultural entrepreneurs who will engage in large-scale farming, providing food and raw materials for our industries.

He explained, “Dangote Fertiliser is working with farmer associations, corporate farmers, NPK blenders, NGO/development partners, and state governments all over Nigeria, as well as governments across Africa and beyond, who are looking for a sustainable approach to improving soil quality and farm yields.”

Godwin Emefiele, the governor of Nigeria’s Central Bank, also spoke at the event, saying that the country owed Aliko Dangote for his massive contributions to the country’s economy.

“It’s great that a Nigerian has not only taken this great initiative of helping to solve our perennial problem of importing petrochemical products, including fertilizer,” he says, “but has also taken advantage of the emerging huge market opportunity presented by recent global developments.”

Emefiele praised President Buhari for providing all the necessary support for the project through sound economic policies, and described the fertiliser plant as timely in light of recent global market developments, in which wheat, fertiliser, and crude oil prices have risen by more than 20% since the start of the Russia-Ukraine conflict.

“In addition to the lessons we learned from countries’ protectionist actions during COVID-19’s early days, this investment is yet another shining example of Mr. President’s foresight and tireless efforts in encouraging domestic production of items that can be produced in Nigeria, particularly agriculture.” This would not only help increase the productivity of our agricultural sector, but it would also help Nigerian farmers avoid relying on imported fertilizer, according to Emefiele.

He recalled that before President Buhari took office in 2015, Nigeria had a fertiliser shortfall of about 3.5 million tonnes per year, compared to the over 6 million tonnes per year required.

Dr. Mahmood Abubakar, Nigeria’s minister of agriculture, urged other investors to rise to the occasion, noting that Dangote Fertiliser would help Nigeria’s fertiliser shortages. He also stated that the government would enforce industry standards to ensure quality.

Mr. Babajide Sanwo-Olu, the governor of Lagos state, praised Alhaji Aliko Dangote for always blazing the trail, noting that the Lagos state government was pleased to host many of his businesses.

The governor stated that if another entrepreneur like Dangote could be replicated in other parts of Nigeria, Nigeria would quickly forget its many economic problems.

As PMB Tours $1.5 billion Lekki Deep Seaport, Nigeria will reclaim lost cargo.

Meanwhile, President Buhari, along with Lagos State Governor Babajide Sanwo-Olu, Transportation Minister Rotimi Amaechi, and other government officials, toured the $1.5 billion Lekki Deep Seaport yesterday.

The president inspected the breakwater, quay wall, and other landside facilities of Nigeria’s first deep seaport after commissioning Dangote Fertiliser, which is located a few kilometers from the deep seaport.

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According to Mohammed Bello-Koko, managing director of the Nigerian Ports Authority (NPA), the Lekki Deep Seaport will help reclaim lost cargoes from neighboring Benin Republic, Togo, Ghana, and other African countries once it is operational.

Bello-Koko said in his speech that the Lekki Deep Seaport had been under construction for years and that it would be ready for a test run in September, after which the port would be ready to receive the first commercial vessel.

“We will reclaim some of the businesses that we have lost to neighboring West African countries due to draught restrictions.” There will be more jobs created and more revenue for the government. It will create competition, forcing other terminal operators to improve their game in order to reduce cargo dwell time at their facilities. “The excess cargoes that have been going to Apapa and Tin-Can Island Ports have been diverted to Lekki Port because they have been operating far beyond their capacity,” he explained.

According to him, the port will be built on about 90 hectares of land, will have three container terminals, and will be Nigeria’s first automated port, allowing for quick clearance of goods.

The president toured the deep seaport “to publicise the project to Nigerians so that people will know this government is building the first deep seaport in Nigeria,” said Rotimi Amaechi, the minister of transportation. The rest of Nigeria’s ports are all river ports.”

The federal government will begin construction of Bonny Deep Seaports after the Lekki Deep Seaport is completed, according to the minister.

“I am confident that we will start working in Bonny Deep Seaport before we leave the office.” Also, the government has approved Ibaka Deep Seaport, and we are expediting Badagry Deep Seaport’s approval so that they can get their own approval.

“The next reason for the president’s visit is to increase the pressure on them” (promoters). You know, the port is almost ready; if it weren’t for the equipment, they could have this place ready before June, but they said the equipment will arrive in June 2022, and installation will take until September, after which it will be commissioned in September.”

Emmanuel Jime, executive secretary of the Nigerian Shippers Council (NSC), also spoke at the event and stated that the Lekki port will change the face of maritime in Nigeria.

“We are going to have vessels that have never berthed in our ports for the first time.” This is our country’s first deep-water port. From that standpoint alone, it gives us the assurance and recognition that, in terms of economies of scale, we will see an increase in commercial activities in ways we have never imagined or experienced before,” he said.

‘New International Terminal To Handle 14 Million Passengers Per Year, Creating 3000 Jobs’

President Muhammadu Buhari also stated that the newly opened international terminal at Lagos’ Murtala Muhammed Airport will accommodate over 14 million passengers annually while also creating 3000 direct and indirect jobs.

There are 66 check-in counters, five baggage carousels, 16 arrival immigration desks, 28 departure immigration desks, 8 security screening points, and six passenger boarding bridges with remote boarding and arrival in the terminal.

Two food courts, four premium lounges, 22 guest rooms, 16 airline ticketing offices, a visa on arrival and port health facility, praying areas, 3,000 square meters of duty-free space, and over 5,000 square meters of let-table utility space are among the other amenities.

The president, who made the announcement at the commissioning of the Murtala Muhammed Airport’s new international terminal in Lagos, also directed the minister of aviation, Hadi Sirika, to expedite the concession of the country’s airports and the completion of Abuja Airport’s second runway.

According to the president, special funding for the completion of the second Abuja airport runway project has been directed to the minister of Finance, Budget, and National Planning.

The president also revealed that the Federal Capital Territory (FCT) minister had been directed to complete the titling of the approved 12,000 hectares of land for the runway and other development projects.

“This enhancement will increase airport operations and management services to approximately 14 million passengers per year, with positive multiplier effects of approximately 3,000 direct and indirect job opportunities for our youths, increased inflow of Foreign Direct Investments, and exponential growth in the Gross Domestic Product.”

Sirika urged President Buhari to appeal to the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to release the $283 million frozen foreign airline fund.

He also urged the CBN to make access to forex a priority for all carriers, both domestic and international, and to devise a mechanism to clear existing backlogs as quickly as possible to avoid further accumulation.

The aviation minister, who also expressed concern about the shortage of aviation fuel and how it was disrupting flight operations across the country, requested that the president direct the NNPC to import Jet-A1 in large quantities.

He also stated that the president’s aviation roadmap is being implemented through a Public-Private-Partnership (PPP), with his ministry collaborating with the Infrastructure Concession Regulatory Commission (ICRC) to ensure a credible and transparent process.