Dangote's Urea Exports: Navigating Trump's Tariff Terrain

Nigerian billionaire Aliko Dangote expressed relief over US tariffs on urea exports, noting his competitor, Algeria, faced higher tariffs. Despite initial concerns, Dangote sees this as advantageous for his Dangote Fertiliser company. He projects Dangote Group's revenue to grow significantly by 2025.

Nigerian billionaire Aliko Dangote expressed relief over U.S. President Donald Trump's tariffs on Nigerian urea exports, highlighting Algeria's higher 30% levies as a competitive advantage for his company. Trump had imposed a 14% tariff on imports from Nigeria, a key oil exporter, as part of broad trade measures.

Speaking at an investment conference in Lagos, Dangote explained that his Dangote Fertiliser, operational since 2022, ships 37% of its production to the U.S. Despite initial worries over the tariffs, he is now confident, given that Algeria, a major competitor, faces stricter tariffs.

Dangote, who also built Africa's largest refinery, anticipates a revenue increase for Dangote Group, including its cement production, projecting growth from $25 billion to over $30 billion by 2025.

(With inputs from agencies.)