Lagos, Nigeria – Africa’s richest man, Aliko Dangote, has expressed confidence in the face of recently imposed U.S. tariffs on Nigerian exports, saying he is “comfortable” with the potential impact on his urea shipments to the United States.
Speaking at an investment conference in Lagos, Dangote acknowledged that while the 14% tariff introduced by former U.S. President Donald Trump initially raised concerns, the higher tariff on a key competitor has helped level the playing field.
“When I first heard about the 14% tariff on Nigeria, I was worried,” Dangote said. “But when I checked who we’re really competing with—it’s Algeria. Fortunately for us, Algeria was slapped with a 30% tariff. So it actually makes us a bit comfortable.”
Urea Exports to the U.S. Remain Strong
Dangote Fertiliser, which began commercial operations in 2022, currently produces around 3 million metric tonnes of urea annually. According to Dangote, approximately 37% of that output is exported to the United States.
Despite the U.S. being a key market, Dangote appeared optimistic about navigating the new trade landscape, particularly in light of Algeria’s higher tariff burden.
Revenue Projections Remain Upbeat
Dangote also touched on the broader financial outlook for the Dangote Group, a conglomerate that spans fertiliser, cement, and recently, oil refining. He projected that group revenues could hit $30 billion in 2026, up from a projected $25 billion in 2025.
This bullish forecast comes on the heels of the completion of Africa’s largest petroleum refinery, another major milestone under Dangote’s leadership.
Global Trade Amid Shifting Policies
The U.S. tariff, part of a broader range of trade measures introduced by the Trump administration and temporarily paused for 90 days, reflects ongoing tensions in global trade policy. However, Dangote’s remarks suggest that the company is well-positioned to maintain its export strength despite geopolitical fluctuations.
Dangote made the comments while attending the Choose France Investment Summit at the historic Château de Versailles in France, where he continues to champion cross-border investments and partnerships.
