Nigerian businessman Aliko Dangote has said the recent tariffs imposed by former U.S. President Donald Trump will not negatively affect products exported from his petrochemical plant.
Speaking in Lagos on Thursday, Dangote explained that Algeria, a major competitor, faces an even higher tariff.
He noted that although Nigeria was hit with a 14% levy on urea exports to the U.S., Algeria received a 30% charge, giving Nigerian products a relative advantage in the market.
Trump’s trade measures, introduced last month and temporarily paused for 90 days, included a 14% tariff on urea fertiliser imports from Nigeria. This development initially raised concerns for Nigerian exporters, as the U.S. remains a key destination for urea exports.
Dangote added that he was initially alarmed when news of the tariff broke, considering that Dangote Fertiliser exports a significant share of its production to the United States.
“We were very worried at first,” Dangote said. “But when I checked who we are really competing with, it turned out to be Algeria. Luckily for us, they were slapped with a 30% tariff. So it actually makes us a bit comfortable.”
He said that Dangote Fertiliser, which commenced commercial operations in 2022, exports about 37% of its total production volume of 3 million metric tonnes to the U.S.
Furthermore, Dangote said that despite the shifting global trade environment, he remains optimistic about the group’s financial outlook.
He projected that the Dangote Group’s total revenue could reach over $30 billion in 2026, up from the $25 billion forecasted for 2025.
The group includes one of Africa’s largest fertiliser plants and the recently inaugurated Dangote Petroleum Refinery, located in Lagos.
It also operates major cement manufacturing plants across Nigeria and other African countries.
Industry experts have warned that continued trade friction and shifting tariff regimes may impact global fertiliser prices and distribution.
However, Dangote’s remarks suggest confidence in the group’s positioning and ability to maintain competitiveness, particularly in key export markets.
Dangote Fertiliser has been instrumental in reducing Nigeria’s dependence on imported fertiliser and boosting local production.
The company’s increased export volume has also contributed to Nigeria’s non-oil export earnings in recent years.
