Dangote Shrugs Off U.S. Tariffs, Says Nigeria’s Urea Exports Remain Competitive

Lagos, Nigeria – May 1, 2025 — Africa’s richest man, Aliko Dangote, has downplayed the impact of U.S. tariffs on Nigerian urea exports, expressing confidence in the resilience and competitiveness of his fertilizer business despite recent trade policy changes under U.S. President Donald Trump.

Speaking at a high-level investment forum in Lagos, Dangote responded to questions surrounding the new 14% U.S. tariff imposed on Nigerian urea imports. “We are very comfortable,” Dangote said. “While the tariff may seem significant, it is actually favorable compared to what our competitors are facing.” He pointed out that Algeria, one of Nigeria’s main rivals in the urea export market, is now subject to a much steeper 30% U.S. tariff.

The Dangote Fertilizer plant, launched in 2022, is one of the largest in the world and currently exports 37% of its annual 3 million metric tons of production to international markets — with the United States being a key destination. Despite initial concerns about how the Trump-era tariff revision could affect trade flows, Dangote believes the policy shift may, in fact, strengthen Nigeria’s position in the global fertilizer market.

“We see this not as a setback, but as an opportunity,” Dangote noted, adding that the comparative advantage against Algeria could translate into increased U.S. market share for Nigerian urea.

Beyond fertilizer, Dangote also shared an optimistic financial forecast for his conglomerate, the Dangote Group, which encompasses operations in oil refining, cement, and petrochemicals. He projected that the group’s annual revenue would grow from $25 billion in 2025 to over $30 billion in 2026, driven by strong performance across its diverse portfolio.

Industry analysts say Dangote’s strategic calm underscores the growing maturity of African industrialists in navigating complex global trade dynamics. “This shows resilience and foresight,” said Ayo Oladipo, an economist at Lagos Business School. “Dangote isn’t just reacting — he’s repositioning.”

The Dangote Group’s response to the shifting trade winds is seen as a case study in adapting African manufacturing to geopolitical currents, with implications for the continent’s broader ambitions under the African Continental Free Trade Area (AfCFTA).