Dangote signs MoU with Moroccan Group on fertilisers production

By Abimbola Fashakin, Lagos
Dangote Group has signed an agreement with OCP Group of Morocco to boost fertiliser production and business in the country.
The OCP Group is a global leader in phosphate and phosphate derivatives markets and sources said 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 released on Sunday stated that the collaboration 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, Mr 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.
Governor Abubakar Badaru of Jigawa State 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.
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.

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