[File photo] Aliko Dangote address investors and capital market regulators during the Dangote Refinery’s IPO opening on NGX, Monday, September 14, 2026.

President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, has announced plans to take the group’s fertiliser business public in 2028.

Dangote, who disclosed this in an interview with Bloomberg’s Francine Lacqua at the Qatar Economic Forum UNGA Special Edition in New York, said the planned initial public offering (IPO) for the fertiliser will likely be quoted on the Nigerian Exchange Limited (NGX, in 2028.

He said the fertiliser business was being expanded significantly, with the group targeting 12 million tonnes of urea production, alongside investments in potash and phosphate mines and 2.2 million tonnes of diammonium phosphate (DAP) production.

“Yes, we will IPO it. It’s going to be the biggest fertiliser company on earth,” Dangote said when asked about plans to list the fertiliser business. Asked when the listing would take place, he replied: “Yes, it will be here in 2028.”

Dangote Fertiliser currently operates a $2.5 billion fertiliser plant in Ibeju-Lekki, Lagos, with an annual urea production capacity of about three million tonnes.

The group has been expanding its fertiliser operations as part of a broader strategy to build production capacity across Africa and reduce the continent’s dependence on imported agricultural inputs.

The Central Bank of Nigeria (CBN) and the Federal Ministry of Finance have signed a Memorandum of Understanding (MOU) on Monetary-Fiscal Policy Coordination as part of efforts to strengthen economic stability.

The Governor of the CBN, Mr Olayemi Cardoso, signed on behalf of the apex bank, while the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, signed on behalf of the ministry in Abuja over the weekend

“Fiscal and monetary policies remain two important and complementary instruments for the management of a modern economy. While fiscal policy influences economic activity through government expenditure, taxation and borrowing decisions, monetary policy promotes price stability and financial system soundness through the management of liquidity, interest rates and monetary conditions. When these policies work in harmony, their combined impact is far greater.

The Emir of Kano, Muhammadu Sanusi II, has praised Kano-born businessman Aliko Dangote and encouraged residents to secure a stake in the Dangote Refinery and Petrochemical Plc before the public offering closes.

“I speak as the Emir of Kano; I would like my people to be owners of this company . I do not want us to be left behind in the capital markets. I do not want us to be left behind in financial inclusion. So this is the time and this is the opportunity,” said Sanusi.

The royal father made the call on Thursday during the Dangote Refinery IPO investor roadshow in Kano, urging residents to invest only disposable income they can afford to lock away for the long term.

His words, “Do not take your children’s school fees and put in shares. Do not sell the house that you live in and put in shares.

“Buy what you can afford, 10,000, 20,000, 30,000 – what you can afford to set aside for some time, set it aside.

And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.

He also advised prospective investors to choose a long-term approach rather than buying shares in anticipation of quick profits.

“And I’m not talking about someone who will buy 5,000 shares and want to sell tomorrow and believe he will get 10,000. No, I’m talking about you have some money, put it in, leave it there for some time, and just watch your money grow.

Forget about it for some time. You’ll be surprised in five years the 10,000 Naira you invest today, what it will be,” Sanusi said.