Aliko Dangote, president and chief executive officer of the Dangote Group, has announced plans to take the conglomerate’s fertiliser business public through an initial public offering in 2028.
Gatekeepers News reports that Dangote disclosed this in an interview with Bloomberg Television on Monday, saying the fertiliser business would be listed as part of the group’s broader plan to make its various businesses accessible to public investors.
“We will IPO it. It’s going to be the biggest fertilizer company on earth. Yes, it will be 2028,” Dangote said.
The announcement comes as the group plans a major expansion of its fertiliser production capacity. Dangote said the business is targeting an increase in annual urea production from about three million tonnes to 12 million tonnes.
He also disclosed plans to develop potash and phosphate operations, including production of about 2.2 million tonnes of diammonium phosphate (DAP), a widely used fertiliser.
According to Dangote, the expansion could enable the company to supply more than 40 percent of Africa’s fertiliser demand.
The Dangote Group has also said it intends to extend the public ownership model to other businesses within the conglomerate. Dangote said the group wants members of the public to become part owners of its investments through future listings.
The planned fertiliser IPO follows the group’s ongoing efforts to take its refinery to the capital market. The Dangote refinery is separately preparing for a major public offering, with Reuters reporting that the company has sought to raise about $5 billion through its planned listing.
Dangote Fertiliser operates from the Lekki area of Lagos and produces urea for both domestic and international markets. Its expansion plans include additional production trains intended to increase output substantially.
The 2028 timeline announced by Dangote represents a longer-term plan, and details such as the size, valuation, offer price and exact exchange on which the fertiliser business would be listed have not been disclosed.
