JamzNG Latest News, Gist, Entertainment in Nigeria
President Dangote Industries Limited, Aliko Dangote, has project that Nigeria will begin to generate $ 7 million in daily income in the next two years through fertilizer exports, positioning the company as the main driver of foreign currency in the country.
Dangote made this revelation on Monday during the honorary visit to the Nigerian Port Authority (NPA) headquarters in Marina, Lagos. He noted that the company’s ambitious export program, especially in fertilizer, would inject substantial foreign currencies into the Nigerian economy.
“In the next two years, we will export around 16,000 tons of fertilizer every day. That is about between $ 6.5 million and $ 7 million revenue every day,” Dangote said, underlines the significant economic impact of the project. “With this program, our company will be the largest supplier of foreign exchange in Nigeria.”
Mogul Bisnis further revealed plans to start coal exports in a few weeks, adding that Dangote Industries are also preparing to export no less than 25 million tons of processed products every year from their refinery operations. The company, he said, will also export between 600,000 and 700,000 metrics of Ton Polypropylene.
“When it comes to export, we will become very big,” he said confidently.
As the richest person in Africa, Dangote stressed the importance of strengthening relations with NPA, especially in advancing the Nigerian marine and blue economic sectors. He described the NPA as the main partner, quoting the scale of the company’s operations that currently make it the largest customer of authority.
Also read: Lagos Complete Reports About Illegal Buildings on Pisang Island, Immediately Promising Publications
“We discuss broadly with NPA leadership about improving the sea and blue economy sectors,” he said. “This kind of interaction is very important for industrial growth, and we have agreed to work directly for the benefit of Nigeria.”
According to Dangote, their current operation on the Lekki axis will involve around 240 crude oil tankers every year, each carrying one million barrels. Combined with the movement of processed products, he projects more than 600 ships per year, plus eight ships that are regularly dedicated to fertilizer exports.
“This is an operational scale that has never been witnessed before in Nigeria,” he said.
He also stressed the importance of federal government support for NPA to ensure the smooth operation. “If the NPA does not give us the services we need, our operations will fight. They need more support, equipment, tug of vessels, and technical capacity,” Dangote said, promising to advocate authority among relevant government circles.
Industrialist also revealed a plan for significant expansion in cement exports, referring to the factory with a capacity of six million tons dedicated to exports. He predicted that the overall port activity would be multiplied in the next one to two years as a result of the developing dangote group export trail.
Join the conversation
Supports Nigeria’s ripples, resistant Journalism Solutions
A balanced and fearful journalism that is driven by data comes with enormous financial costs.
As a media platform, we ask for leadership accountability and will not trade the right to suppress freedom and freedom of speech for a piece of cake.
If you like what we do, and ready to uphold journalism solutions, friendly Nigerian ripples cause.
Your support will help ensure that residents and institutions continue to have free access to credible and reliable information for community development.
Donation now
