Business

AFC Backs Dangote Fertiliser With $600m Loan for Expansion

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

Published

5 months ago

June 15, 2026

OCHEFA

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The Africa Finance Corporation (AFC) has signed a $600 million loan agreement to support the expansion of Dangote fertiliser production capacity.

The investment forms part of Dangote Group’s broader $7 billion fertilizer expansion programme, which is expected to increase Dangote Fertilizer’s production capacity in Nigeria from three million metric tonnes per annum (MTPA) to nine 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.

Speaking on the transaction, president & CEO of Africa Finance Corporation, Samaila Zubairu, 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 Fertiliser, 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,” he said.

Related Topics:AFC Dangote Fertiliser expansion loan Featured

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

16 hours ago

November 5, 2026

OCHEFA

73 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

OCHEFA

122 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.