Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has unveiled ambitious plans to significantly boost Nigeria’s foreign exchange earnings through large-scale exports of fertiliser, coal, and petrochemical products over the next two years.
Speaking during a courtesy visit to the Nigerian Ports Authority (NPA) headquarters in Marina, Lagos, Dangote revealed that the company is gearing up to export around 16,000 tonnes of fertiliser daily, which could generate up to $7 million in daily revenue for Nigeria. He projected that Dangote Industries would soon become the country’s leading source of foreign exchange inflows through its robust export programme.
“In two years, we’ll be pushing out about 16,000 tonnes of fertiliser every single day. That amounts to roughly $6.5 to $7 million in daily revenue entering Nigeria,” Dangote stated. “This volume puts us in a position to be a major contributor to the country’s forex reserves.”
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Dangote also announced that coal exports would commence in a matter of weeks, while the company’s refinery is expected to export no less than 25 million tonnes of refined products annually. Additionally, the company plans to export 600,000 to 700,000 metric tonnes of polypropylene, a key petrochemical product.
Highlighting the critical role of port infrastructure in these plans, Dangote emphasised the importance of strategic collaboration with the NPA, especially as the group’s operations at Lekki Port alone involve around 240 crude oil vessels, each carrying about one million barrels of crude.
“Our scale of operations makes us the NPA’s largest customer,” he said. “Without strong support and consistent services from the NPA, our business cannot survive. That’s why sustaining our partnership is vital, especially as we push forward into new export markets.”
He further stressed the need for public-private collaboration to strengthen Nigeria’s Marine and Blue Economy sector, noting that a well-functioning port system is crucial for realising the country’s broader economic goals through trade.
Dangote’s announcement comes amid growing national efforts to diversify the economy and strengthen non-oil exports — a vision aligned with Nigeria’s drive for industrial self-reliance and increased foreign revenue streams.
