President of Dangote Industries Limited, Alhaji Aliko Dangote has confirmed plans to list its fertiliser business on the stock market in 2028, as the group moves to expand the unit into one of the world’s largest urea producers.
When asked whether the group was considering an IPO for its fertiliser business during an interview at the Qatar Economic Forum on Sunday, Dangote confirmed that the company would be listed.
“Oh, yeah, yeah. I mean, we will IPO it. It’s going to be the biggest fertilizer company on earth, Yes, it will be 2028.”
Dangote Fertiliser currently operates a $2.5 billion fertiliser complex in Ibeju-Lekki, Lagos with an annual production capacity of about three million tonnes of urea, making it one of the largest fertiliser production facilities in Africa.
The group has outlined an ambitious expansion programme that would increase its total fertiliser production capacity to about 12 million tonnes annually by 2028 expected to include additional capacity from its Nigerian operations as well as a proposed fertiliser plant in Ethiopia.
Dangote has previously said the planned expansion would significantly increase the group’s presence in the global fertiliser market and position its fertiliser business among the world’s largest urea producers.
