Aliko Dangote, president of the Dangote Group, says Africa will be self-sufficient in fertiliser supply within 40 months.
Dangote spoke on Friday during the annual Afreximbank meeting in Abuja.
“In the next 40 months, Africa will not import fertiliser from anywhere,” he said.
“We have a very aggressive trajectory right now. We want to put Dangote Fertiliser to be the largest producer of Urea — bigger and higher than Qatar. Give me 40 months.”
Advertisement
On May 26, the billionaire said the Dangote Industries Limited (DIL) is targeting a $7 million daily revenue from the sale of fertiliser in the next two years.
‘AFRICA MUST CREATE JOBS FOR ITS CITIZENS’
Speaking further, Dangote said the African continent must create jobs for its citizens.
Advertisement
“The real reason why we have actually not flown as much as Asia is because Asians have old entrepreneurs and old money and majority of them believe in their own continent — Indonesia, Thailand, and other areas,” he said.
“Most of them invest their money at home. Most people who have made money legally and illegally, they invest it there.
“In Africa, some people make money legally and some make it illegally and majority of them take the money out of the continent.
“If I am not investing at home, how do I convince somebody to come and partner with me and make Africa great.”
Advertisement
Dangote said the continent needs strong financial institutions, good manufacturing base, thriving agriculture, and artificial intelligence (AI) for rapid growth.
He said once the country focuses on “our mineral resources, Africa will be a totally different story”.
