The Nigeria’s agricultural sector has received a major boost as the Dangote Group and the OCP Group of Morocco signed an agreement to boost fertiliser production and business in the country.
The OCP Group is a global leader in phosphate and phosphate derivatives markets.
The partnership is expected to lead to the creation of an integrated African platform and a
global leader in fertiliser production,
A statement from the Dangote Group announced this on Sunday in Abuja.
It said that the collaboration between the two African conglomerates would help the Dangote mix the mass deposit of phosphate in Morocco with the gas potential in Nigeria to produce fertiliser for the development of the agriculture sub-sector in Africa.
President of the Dangote Group and Africa’s richest man, Aliko Dangote, said the agreement would support Nigeria’s effort to attain food security, create jobs and address rural urban drift.
Both the OCP of Morocco and Dangote, during the meeting, indicated that more than two million tonnes of customised fertiliser would be imported from Morocco in the next three years.
Dangote said out of the 2.8 billion dollars total investment, 2.5 million dollars had already been committed to the project by the Group.
It will ensure a growth from 3.6MT fertiliser capacity in 2018, to 4.6MT in 2020.
He said by the time it would start operation in December 2017, the three million tons capacity Urea Plant would be the biggest in Africa, and as well the second largest in the world.
According to him, the effort will bolster Nigeria’s foreign exchange earnings, improve government revenue, create jobs, increase yield per hectare and further grow the GDP in the agriculture sub sector.
“The Joint Venture shall become the powerhouse of fertilisers to make Africa self sufficient in fertilisers,” he added.
Gov. Abubakar Badaru of Jigawa, who witnessed the ceremony, said the deal would enable fertiliser to be sold to farmers in Nigeria at cheaper rates.
According to the Governor, 250,000 fresh jobs will be generated from the agreement.
The News Agency of Nigeria (NAN) reports that President Muhammadu Buhari and the Moroccan King Mohammed have also signed other bilateral agreements, including cooperation in strengthening the local blending capabilities and Agriculture Eco-System Agreement.
NAN also reports that the OCP Group is a global leader in phosphate and phosphate derivatives markets.
It is the world’s largest exporter of phosphate rock and phosphoric acid, as well as one of the world’s largest producers of fertiliser.
NAN reports that the Dangote Group is one of Africa’s most diversified conglomerates and the leading cement
producer founded by the Africa’s richest person, Aliko Dangote.
It is currently building the largest refinery, petrochemical and fertiliser complex in
Africa with the capacity to refine 650,000 barrel a day. (NAN)