Nigerian billionaire Aliko Dangote said Thursday that he was “reassured” by the impact that the customs duties imposed by President Donald Trump would have on his urea exports to the United States, because his main competitor, Algeria, had been struck by a higher tax.
Trump imposed customs duties of 14 % on imports from Nigeria, the first oil exporter in Africa, as part of generalized commercial measures introduced last month, then suspended for 90 days.
Dangote said at a conference on investment in Lagos that Dangote fertilizing, which began its commercial activities in 2022, sent 37 % of its 3 million tonnes of urea produced in the United States.
-He said he was initially concerned about customs duties imposed by Trump in Nigeria, who also exports crude oil to the United States.
“But when I checked who were our real competitors, I found that we were in competition with Algeria. Fortunately for us, Algeria has been struck by 30 %, “said Dangote. “It reassures us somewhat. »»
Dangote, who built the largest oil refinery in Africa, said that he expected the Dangote group’s income, also a major cement producer, go from $ 25 billion planned in 2025 to more than $ 30 billion next year. (Report by Macdonald Dzirutwe; edited by Jan Harvey)
