DSC 8600, L-R, Executive Officer, Greenview Fertiliser Corp, Vishwajit Sinha; Director & GC (Legal & Corporate Secretariat) Africa Finance Corporation (AFC) Vivienne Yeda; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, (AFC), Samaila Zubairu; During the Signing Ceremony of Agreement Between Dangote Industries Limited, and Africa Finance Corporation, in Lagos on Friday 12, June 2026.

The Dangote Group has strengthened its strategic partnership with the Africa Finance Corporation (AFC) with the signing of a $600 million loan agreement to support the expansion of its fertilizer production capacity, in a major boost to food security across Nigeria and the African continent.

The loan facility to GreenView Fertilizer Corporation (Greenview), the Dangote Fertlizer Holding Company will part finance the expansion of its urea fertilizer production capacity in Nigeria and the development of the plant in Ethiopia.

The investment forms part of Dangote Group’s broader US$7 billion fertilizer expansion programme, which is expected to increase Dangote Fertilizer’s production capacity in Nigeria from 3 million metric tonnes per annum (“MTPA”) to 9 MTPA, while also supporting the development of a new 3 MTPA urea fertilizer plant in Ethiopia. The programme is expected to materially expand Africa’s fertilizer production capacity, strengthen regional food security, support agricultural productivity, and reduce the continent’s dependence on imported fertilizer.

The financing underscores AFC’s continued confidence in Dangote Group’s vision to drive industrial growth and agricultural transformation through large-scale investments in critical infrastructure. The facility will be deployed towards expanding the Dangote Fertilizer Plant, one of the largest granulated urea fertilizer complexes in the world, located in Ibeju-Lekki, Lagos State.

L-R, Executive Officer, Greenview Fertiliser Corp, Vishwajit Sinha ; Director & GC ( Legal & Corporate Secretariat) Africa Finance Corporation (AFC) Vivienne Yeda; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of Board of Directors, Africa Finance Corporation, ( AFC), Samaila Zubairu; Snr. Vice President & Principal Counsel, Africa Finance Corporation, Titilayo Oke; Group Chief Financial Officer, Dangote Industries Limited, Murat Erden; During the Signing Ceremony of Agreement Between Dangote Industries Limited, Africa Finance Corporation, in Lagos on Friday 12, June 2026.

This expansion is expected to significantly scale up production capacity, enhance supply chain efficiency, and ensure the steady availability of high-quality fertilizers to farmers across Africa. It will also help reduce dependency on fertilizer imports, stabilize prices, and improve agricultural yields, thereby strengthening the continent’s food security framework.

Speaking on the development, President of Dangote Group, Aliko Dangote says the expansion is expected to generate over $4 billion annually in export earnings within the next three years.: “What he’s actually given us this money for is a company where by the next three years we’ll be able to have an export of over $4 billion worth of urea fertilizer, and I think it is a big contribution to the foreign exchange income of the country… You can continue to count on us. When we say that we want to grow our group to $100 billion by 2030, it doesn’t mean that we want to grow alone, we want to grow together, especially with African Finance Corporation among other notable institutions in Africa”

Commenting on the transaction, Samaila Zubairu, President & CEO of Africa Finance Corporation, said: “This transaction demonstrates AFC’s capital recycling model in action. Following the successful repayment of our earlier investment in Dangote Industries Limited, we are redeploying and doubling that capital into Dangote Group’s next phase of growth. By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial champion whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent.”

The Dangote Fertilizer Plant currently plays a pivotal role in meeting domestic demand while also exporting to international markets, generating foreign exchange earnings for Nigeria. With the planned expansion, the company aims to further consolidate its leadership in the global fertilizer market.

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As Nigeria commemorates Democracy Day, renowned economist and Managing Director of Bismarck Rewane, has identified security reforms and cassava industrialisation as two critical pillars that could unlock the country’s next phase of economic growth and prosperity.

In a Democracy Day reflection released by Financial Derivatives Company Limited (FDC), Rewane and his team argued that while Nigeria possesses immense economic potential, persistent insecurity and the underutilisation of its agricultural resources continue to limit sustainable growth.

According to the FDC report, insecurity remains one of the biggest constraints on economic development, disrupting agricultural production, discouraging private sector investment, increasing business costs, and displacing millions of citizens across affected communities.

To tackle the challenge, the Federal Government increased defence and security spending by 10.18 percent to ₦5.41 trillion in the 2026 budget, while sustaining major military operations including Operation Hadin Kai, Operation Fansan Yamma, Operation Delta Safe, and Operation Udo Ka. These operations have recorded successes through the neutralisation of criminal elements, rescue of kidnapped victims, and recovery of arms and ammunition.

However, Rewane’s FDC cautioned that military action alone cannot deliver lasting peace.

Lessons from Colombia

Drawing lessons from Colombia’s successful fight against insurgency and organised crime, the report noted that sustainable security requires a combination of military reforms, intelligence-led operations, international cooperation, and social development initiatives.

“Security is not merely a defence issue; it is an economic imperative,” the report emphasised.

The think tank stressed that Nigeria must strengthen intelligence gathering, deepen community policing, address youth unemployment, reduce poverty, and invest in local economic development if it hopes to achieve long-term stability and attract investment.

According to FDC, the economic costs of insecurity extend far beyond security budgets. Reduced farm output, disrupted supply chains, lower investor confidence, and declining productivity continue to weigh heavily on economic performance.

Turning Cassava into an Economic Goldmine

Beyond security concerns, Rewane’s Democracy Day message highlighted cassava as one of Nigeria’s most underutilised economic assets.

Nigeria remains the world’s largest cassava producer, accounting for nearly 20 percent of global output with annual production exceeding 62 million metric tonnes. Yet, despite this dominance, the country has failed to convert its production advantage into industrial leadership and significant export earnings.

FDC believes the solution lies in expanding the production and processing of value-added cassava products such as high-quality cassava flour, industrial starch, ethanol, glucose syrup, and livestock feed inputs.

Such investments, the report noted, could significantly reduce Nigeria’s dependence on imported wheat, conserve scarce foreign exchange, stimulate manufacturing, and create employment opportunities across the agricultural value chain.

Learning from Thailand and Ghana

The report cited Thailand and Ghana as examples of countries that have successfully transformed cassava production into thriving industrial sectors.

According to Rewane’s team, their success was driven not by production volumes alone but by coordinated value chains, farmer aggregation systems, mechanisation, quality assurance frameworks, and strong links between producers and industrial processors.

For Nigeria to replicate these achievements, FDC recommended addressing low farm yields, reducing post-harvest losses, improving rural infrastructure, expanding access to finance, and encouraging public-private sector partnerships.

AfCFTA Opportunity

The report further noted that the African Continental Free Trade Area presents a unique opportunity for Nigeria to position cassava-based products as competitive exports across Africa.

By investing in processing hubs and strengthening value chains, cassava could evolve from a traditional food-security crop into a major source of export revenue, industrial growth, and rural employment.

Democracy and Economic Prosperity

Reflecting on Nigeria’s democratic journey, Rewane’s FDC maintained that true prosperity depends on creating a secure environment where businesses can thrive and citizens can participate fully in economic activities.

The report concluded that while insecurity continues to challenge growth, Nigeria’s abundant agricultural resources—especially cassava—offer a clear pathway toward economic diversification and sustainable development.

As the nation celebrates Democracy Day, FDC’s message is clear: securing communities and industrialising agriculture may prove just as important as political reforms in shaping Nigeria’s economic future.

Bismarck Rewane-led Financial Derivatives Company says stronger security reforms and cassava industrialisation are critical to unlocking investment, boosting exports, creating jobs, and accelerating Nigeria’s economic growth.

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L–R: Dangote Oil and Gas Vice President, Mr. Edwin Devakumar; Prime Minister of Ethiopia, Abiy Ahmed; President of Dangote Group, Aliko Dangote; Deputy Chairman of the Prosperity Party, Adem Farah; and Dangote Group Chief Strategy Officer, Aliyu Suleiman, during an inspection of the fertiliser plant under construction in Gode, Ethiopia, over the weekend.

President of the Dangote Group, Aliko Dangote, has reaffirmed his commitment to boosting food security across Africa through large-scale fertiliser investments, declaring that the continent has the capacity to feed itself and become a net exporter of agricultural products.

Dangote made this known while addressing journalists in Gode, in Ethiopia’s Somali region, during a high-profile visit hosted by Prime Minister Abiy Ahmed. The Prime Minister personally received Dangote and accompanied him to inspect the site of the proposed fertiliser plant, where construction activities are already underway.

Speaking on the strategic importance of fertiliser in agricultural productivity, Dangote noted that Africa’s food insecurity challenges are largely due to limited access to key inputs.

“Africa holds immense agricultural potential, yet continues to grapple with food insecurity due to limited access to fertiliser,” he said. “Through our investments, we are committed to reversing this trend by boosting productivity, empowering farmers, and advancing a sustainable path to food self-sufficiency.”

He added that the Group’s ambition, though bold, is achievable with sustained investment in fertiliser production and agricultural infrastructure.

“Africa has the capacity to feed itself and even export to the rest of the world. Our fertiliser investments across the continent are designed to unlock that potential and secure a prosperous future for our people,” Dangote stated.

Dangote also announced a significant increase in the Group’s investment in Ethiopia, rising from $2.5 billion to over $4 billion. The expanded scope includes critical infrastructure such as a 110-kilometre pipeline, a 120MW power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant, among other new components.

He described Ethiopia as a key strategic destination for Dangote Group’s long-term investments.

“In total, our declared and signed investments in Ethiopia now exceed $4 billion. This makes Ethiopia the second-largest recipient of our investments in Africa, accounting for nearly nine per cent of our continental outlay between now and 2030,” he said.

Dangote further commended Prime Minister Abiy Ahmed’s leadership and vision for economic transformation.

“The Prime Minister is driving development beyond expectations, but such progress requires strong private sector collaboration. We are proud to partner with Ethiopia to help build one of Africa’s most dynamic economies in the coming decade,” he added.

Prime Minister Abiy Ahmed, in his remarks, described Dangote as a trusted partner and commended the pace of work on the fertiliser project, which he said aligns with Ethiopia’s broader development priorities.

He emphasised that the project would significantly boost domestic fertiliser production, reduce dependence on imports, and provide critical support to millions of Ethiopian farmers.

According to the Prime Minister, the fertiliser plant will also create extensive employment opportunities, strengthen the industrial value chain, and reinforce Ethiopia’s position as an emerging agro-industrial hub in Africa.

“This type of large-scale investment demonstrates the power of strong collaboration between government and the private sector,” he said. “Expanding such partnerships will accelerate economic growth, attract further investment, and improve the livelihoods of our people.”

The Dangote fertiliser initiative is widely seen as a transformative step toward reshaping Africa’s agricultural landscape, with the potential to enhance productivity, reduce import dependence, and drive inclusive economic growth across the continent.

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In a strategic move to cushion the impact of climate shocks on Nigeria’s agricultural sector, Leadway Assurance, in collaboration with the Federal Government through the Presidential Food Systems Coordinating Unit (PFSCU) and PULA Advisors, has disbursed ₦396.7 million in insurance claims to smallholder farmers across four states.
The payout, announced at the 2025 Wet Season Insurance Pay-out Ceremony under the National Agribusiness Planning Mechanism (NAPM) in Abuja, benefited farmers in Plateau, Borno, Kaduna, and Taraba states who suffered losses due to erratic weather patterns, flooding, drought, and other climate-related risks.
State-by-State Distribution Reflects Loss Severity
A breakdown of the disbursement shows Taraba State receiving the highest share of ₦154.31 million, followed by Borno with ₦127.19 million. Kaduna farmers received ₦69.73 million, while Plateau accounted for ₦45.47 million, reflecting the varying degrees of agricultural losses recorded during the wet season.
The initiative reached over 43,000 farmers, many of whom faced severe setbacks that could have jeopardised their ability to return to farming in the next cycle.
Strengthening Food Security Through Insurance
Speaking at the event, the Chief Executive Officer of Leadway Assurance, Gboyega Lesi, described agriculture as highly vulnerable to environmental risks, noting that insurance is increasingly becoming a critical tool for protecting farmers’ livelihoods.
He emphasised that climate insurance ensures that a single bad season does not translate into long-term economic hardship for farmers, adding that the partnership aligns with Nigeria’s broader food security agenda.
Lesi further noted that data gathered from the payout exercise would inform future interventions, with a focus on expanding access, improving transparency, and leveraging technology to scale agricultural insurance across the country.
Building Farmer Confidence and Resilience
Also speaking, Fatona Ayoola stressed that timely claims settlement is essential for building trust among farmers and encouraging wider adoption of insurance solutions.
He explained that prompt payouts enable farmers to recover quickly, reinvest in their farms, and sustain food production, thereby contributing to national food security.
On his part, Michael Enahoro described the initiative as a milestone in demonstrating that large-scale agricultural insurance is feasible in Nigeria.
According to him, while the payout provides immediate relief, the broader objective is to boost food production and create a sustainable risk management system for farmers.
Challenges Highlight Need for Scale and Continuity
Despite the success recorded, Enahoro pointed out implementation challenges, including gaps in farmer identification and awareness. He revealed that many beneficiaries were initially unaware they were part of the scheme, underscoring the need for improved data systems and outreach.
He also warned that rising input costs—now estimated to have increased by 70 to 90 per cent—are compounding farmers’ vulnerability, making recovery from losses even more difficult without structured financial support.
A Growing Shift in Agricultural Policy
The latest disbursement builds on earlier interventions, including the ₦110 million payout in 2024 to farmers affected by ginger blight disease, signalling a growing commitment to integrating insurance into Nigeria’s agricultural framework.
With approximately 65 million Nigerians engaged in agriculture, stakeholders say scaling such initiatives could play a pivotal role in stabilising rural incomes, boosting productivity, and reducing the country’s dependence on food imports.
Nigeria’s agricultural sector remains highly exposed to climate variability, with frequent occurrences of floods, droughts, and pest infestations disrupting production cycles and threatening food supply chains.
However, the collaboration between government agencies and private insurers reflects a shift toward risk-sharing mechanisms designed to protect farmers and build long-term resilience.
Outlook
Stakeholders emphasised that sustained implementation over multiple farming cycles will be critical to embedding an insurance culture among farmers. They also called for stronger coordination among federal and state governments, development partners, and private sector players.
As climate uncertainties intensify, the ₦396.7 million payout stands as both a relief measure and a forward-looking strategy—one that positions agricultural insurance as a cornerstone of Nigeria’s food security framework.
Leadway Assurance, in partnership with the FG and PULA Advisors, disburses ₦396.7m insurance claims to over 43,000 farmers, boosting resilience against climate shocks..

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Nigeria’s agrofood sector has taken centre stage as industry leaders, policymakers, and global investors converge to unlock a projected €222 billion market opportunity, with strong calls for structural reforms to transform the country’s food value chain.
At the 11th edition of Agrofood Nigeria, held in Lagos, stakeholders emphasized that while Nigeria possesses vast agricultural potential, systemic inefficiencies—particularly in post-harvest management, logistics, and processing—continue to limit the sector’s global competitiveness.
The international exhibition and conference, organised by fairtrade Messe GmbH in collaboration with Modion Communications which was Rebranded As Creato Urban, Signals Strong Global Ambitions, featured 137 exhibitors across agriculture, food processing, packaging, ingredients, and hospitality. Participants from 15 countries and four continents showcased innovations aimed at strengthening Nigeria’s agro-industrial ecosystem.
With the theme “Achieving World-Class Food Security in Nigeria,” discussions at the event focused on repositioning agriculture as a driver of economic diversification, industrial growth, and export expansion.
Representing Lagos State Governor Babajide Olusola Sanwo-Olu, the Commissioner for Agriculture and Food Systems, Ruth Abiola Olusanya, highlighted Lagos’ strategic role as Africa’s largest food consumption hub.
She disclosed that the state’s food economy has surged from ₦6.5 trillion in 2019 to over ₦16 trillion, underscoring its dominance in regional food trade. “Lagos alone accounts for more than half of all food traded in the South-West and contributes about 22 per cent to Nigeria’s GDP,” she said, adding that the state’s economy is projected to reach ₦66 trillion.
According to her, Lagos presents a critical gateway for investors in agro-processing, cold chain logistics, packaging, and food technology seeking access to structured and high-demand markets across Africa.
Delivering a keynote address, renowned economist Bismarck Rewane of Financial Derivatives Company warned that global geopolitical tensions—particularly conflicts in the Middle East—could exacerbate food inflation and supply chain disruptions in Nigeria.
He cautioned that Nigerians must brace for potential shocks in food prices driven by external economic pressures, highlighting the vulnerability of the country’s food system to global events.
A critical issue raised at the conference was the staggering level of post-harvest losses. President of the Organization for Technology Advancement of Cold Chain in West Africa, Alexander Isong, described Nigeria’s cold chain infrastructure as grossly underdeveloped.
He revealed that Nigeria loses between ₦3.5 trillion and ₦5 trillion annually—equivalent to 30 to 40 million metric tonnes of food—due to inadequate storage, transportation, and preservation systems. “The real challenge is no longer production but what happens after harvest,” he noted, adding that over 97 per cent of Nigeria’s agricultural exports are shipped in raw, unprocessed form.
This, stakeholders argue, represents a missed opportunity for value addition, job creation, and foreign exchange earnings.
On the global front, President of the Manufacturers Association of Nigeria, Francis Meshioye, drew attention to worsening food insecurity, citing figures from the World Food Programme showing that approximately 733 million people faced hunger in 2023, with Africa bearing the brunt.
He stressed the need for Nigeria to strengthen its agro-industrial base to mitigate external shocks and improve food availability.
Also speaking, the National President of the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture, Jani Ibrahim, expressed optimism that Nigeria can achieve world-class food security. However, he emphasized that success will depend on sustained investments, policy consistency, and strong collaboration between government and private sector players.
The event also witnessed strong international participation, with exhibitors and delegations from Germany, the Netherlands, China, the United States of America, the United Arab Emirates, and others, reflecting growing global interest in Nigeria’s agrofood market.
As Agrofood Nigeria 2026 wraps up, the consensus among stakeholders is clear: Nigeria stands on the brink of a massive agrofood expansion, but unlocking its €222 billion potential will require urgent and coordinated action to modernize the entire value chain—from farm to market.
Without such reforms, experts warn, the country risks continuing massive food losses, limited export value, and missed economic opportunities in one of its most critical sectors.
Agrofood Nigeria 2026 highlights a €222bn market opportunity, with experts urging urgent reforms in Nigeria’s food value chain to tackle losses, boost processing, and achieve food security.
Industry leaders at Agrofood Nigeria 2026 call for value chain transformation as Nigeria’s agrofood market is projected to hit €222bn, highlighting investment opportunities and food security challenges.

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