President Muhammadu Buhari on Tuesday predicted a boom in the economy, especially the agricultural sector as a result of the commissioning of the Dangote Fertilizer Plant, situated in Ibeju-Lekki, Lagos State.
The world-class fertilizer plant was built at a cost of $2.5 billion, with the capacity to produce 3 million metric tonnes (mt) of urea yearly.
Nigeria’s average fertilizer application of 20kg/ha, is regarded as the lowest in Africa, as it lags behind some other African countries, including South Africa and Egypt.
The Dangote fertilizer plant is expected to bridge this deficit.
The plant, which is located at the fast-growing Economic Free Trade Zone, is acclaimed to be the largest of such projects in West Africa.
In his speech during the commissioning, Buhari revealed how the project will ensure the massive creation of job opportunities for the youth.
“I praise Alhaji Aliko Dangote for the project to create job opportunities for economic growth. I am confident that this investment will replicate the group’s earlier exploits in FCMG and other countries.
“Dangote is the second biggest employer of labour in the country after the Federal Government. The creation of jobs by the private sector is very important to the development of the country.
In the agricultural sector, we expect a boom due to the availability of agro-chemicals needed for productive food production. Let me assure all Nigerians that our government aims to provide an enabling environment for the private sector to thrive. I commend the CBN and other stakeholders for allowing this project to come to fruition.”
Corroborating the President’s sentiments, the Governor of Lagos State, Babajide Sanwo-Olu noted that this project would trigger the growth of entrepreneurs such as Dangote which will aid the development of the country.
“We are here to commission the largest fertilizer plant in Africa. The President and I discussed in London, how to provide job opportunities to our youth and this is a testament to the provision of such opportunities.
This plant will also cascade into the agricultural sector. Alhaji Dangote was able to achieve this project due to his resilience and love for the country. We need to ensure the replication of many Dangotes in our midst in order to drive development in the country.”
