Aliko Dangote of Nigeria is “comfortable” with how Trump’s tariffs will affect urea exports

Aliko Dangote, a Nigerian billionaire, stated on Thursday that he was “comfortable” with the effect that President Donald Trump’s tariffs would have on his urea exports to the United States, given that Algeria, a significant rival, had already been hit with a higher duty.

Trump’s broad trade policies, which were first implemented last month and then put on hold for ninety days, included a 14% duty on imports from Nigeria, Africa’s biggest oil exporter.

Dangote stated at an investment conference in Lagos that 37% of the 3 million metric tonnes of urea produced by Dangote Fertilizer, which started commercial operations in 2022, was sent to the US.

He claimed that Trump’s levy on Nigeria, which also sends crude to the United States, originally alarmed him.

However, while verifying our actual competitors, I discovered that Algeria is our rival. Fortunately for us, Algeria was hit with 30%,” Dangote stated. “So it actually makes us a bit comfortable.”

Dangote, who constructed the biggest petroleum refinery in Africa, predicted that the Dangote Group, a significant cement manufacturer, will generate over $30 billion in income next year, up from the estimated $25 billion in 2025.