Keypoints:
- Dangote says Algeria’s higher tariff gives Nigeria a trade edge
- 37 percent of Dangote Fertiliser’s urea goes to the US
- Group revenue projected to hit $30bn next year
AFRICA’S richest man, Aliko Dangote, has said he is unbothered by the new US tariffs on Nigerian exports, arguing that the measures may actually help his fertiliser business stay competitive in the American market.
Speaking at an investment conference in Lagos on Thursday, Dangote said he was initially concerned by President Donald Trump’s decision to impose a 14 percent tariff on imports from Nigeria. But upon closer inspection, he realised that his main rival, Algeria, was hit with an even steeper 30 percent duty — giving Nigerian urea a pricing advantage.
‘When I checked who we are really competing with, we are competing with Algeria. So luckily for us, Algeria were slapped with 30 percent,’ Dangote told delegates. ‘So it actually makes us a bit comfortable.’
The comments were reported by Reuters, which noted that Trump’s tariffs were part of sweeping trade measures rolled out last month, though currently paused for a 90-day review period.
US remains key market for Nigerian fertiliser
Dangote Fertiliser, which began commercial production in 2022, has quickly established itself as a major player in global agriculture supply chains. According to Dangote, the company shipped 37 percent of its 3 million metric tonnes of annual urea production to the United States alone.
While Nigeria is better known for its oil exports — it is Africa’s largest crude producer — Dangote’s fertiliser and refinery projects have been designed to reduce the country’s import dependence and diversify its export earnings.
Despite the US tariff threat, Dangote expressed confidence that his business would remain strong. The higher tariff on Algerian competitors effectively boosts Nigeria’s relative competitiveness in the American market.
Revenue growth projected to hit $30bn
Dangote also spoke about broader financial projections for his business empire. He expects Dangote Group’s total revenues to grow significantly in the coming year — from a projected $25bn in 2025 to more than $30bn by 2026.
The conglomerate, which includes Africa’s largest oil refinery, a major cement operation, and the continent’s biggest fertiliser plant, has become a cornerstone of Nigeria’s industrial strategy.
Dangote’s optimism stands in contrast to worries among many exporters across the continent who fear being squeezed by protectionist US trade policies. His remarks suggest that for businesses agile enough to exploit tariff differentials, the shifting global trade landscape could bring unexpected opportunities.
