President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has announced plans to take the group’s fertiliser business public through an initial public offering (IPO) in 2028.
Dangote disclosed this during an interview with Bloomberg at the Qatar Economic Forum, where he said the planned listing would make the fertiliser business the biggest of its kind globally. ([TheCable][1])
> “We will IPO it. It’s going to be the biggest fertilizer company on earth. Yes, it will be 2028,” Dangote said.
Dangote Fertiliser currently operates a **$2.5 billion plant in Ibeju-Lekki, Lagos**, with an annual urea production capacity of about three million tonnes.
The company is targeting an expansion of its production capacity to about **12 million tonnes of urea annually by 2028**, alongside planned investments in potash, phosphate and diammonium phosphate production. The group is also planning a fertiliser facility in Ethiopia. ([Arise News][2])
Dangote said the expansion was partly driven by Africa’s dependence on imported fertiliser and the disruptions to global supplies witnessed during the Russia-Ukraine war.
The proposed fertiliser IPO would follow the group’s plans to take its refinery business public, as Dangote moves to broaden public ownership of some of its major businesses.