Trump’s 14% Tariff Not Affecting Urea Export – Dangote

President of Dangote Group, Aliko Dangote, on Thursday said he was unbothered by the 14 per cent tariff imposed by former U.S. President Donald Trump on Nigerian imports, stating that it had not negatively affected his company’s urea exports.

Speaking at an investment conference in Lagos, Dangote explained that his confidence stemmed from the fact that Algeria—his main competitor in the U.S. market—was hit with a higher 30 per cent duty, thereby giving Nigeria an edge.

He noted that Dangote Fertiliser, which began commercial production in 2022, had exported 37 per cent of its 3 million metric tonnes of urea output to the United States. According to him, the tariff’s impact has been minimal due to the advantage over Algeria.

Dangote, who also built Africa’s largest oil refinery and runs a major cement production arm, projected that the company’s valuation would exceed $30 billion next year, up from the expected $25 billion in 2025.

Recall:

Last month, the U.S. administration under Trump announced a 14% tariff on imports from Nigeria as part of broader trade policies.

The tariff move triggered anxiety in various industries but was temporarily paused for 90 days, allowing time for diplomatic dialogue.

Dangote Fertiliser, which began commercial operations in 2022, exported 37% of its 3 million metric tonnes of urea output to the U.S. in recent months.