Africa’s richest man, Aliko Dangote, has said that the recent 14% tariff imposed by former U.S. President Donald Trump on Nigerian imports is unlikely to affect his company’s urea exports. Speaking at an investment conference in Lagos, Dangote explained that despite initial concerns, his products remain competitive because key rival Algeria faces an even steeper 30% duty.
Dangote Fertiliser, which began operations in 2022, currently exports about 37% of its 3 million metric tonnes of urea production to the U.S. market. “I was initially worried about the tariff,” Dangote admitted, “but when I checked who we are really competing with, we are competing with Algeria. So luckily for us, Algeria was slapped with 30 per cent. So it actually makes us a bit comfortable.”
The 14% U.S. tariff, part of broader trade measures targeting Nigerian exports, was temporarily paused for 90 days, giving room for ongoing negotiations. Despite the broader concerns from Nigerian exporters, Dangote remains optimistic about his company’s position in the American market.
Beyond fertiliser, Dangote also shared ambitious growth projections for his conglomerate. He expects the Dangote Group’s revenue to exceed $30 billion next year, up from the $25 billion forecast for 2025. This anticipated growth is driven by strong performance across his cement and refining businesses, including Africa’s largest petroleum refinery, which he built and launched.
The remarks come amid global trade tensions but highlight Dangote’s confidence in his diversified industrial empire’s resilience and future expansion.
