A distinguished South African official dressed in a suit and sunglasses, attending a formal event or conference.
Despite new US tariffs under President Donald Trump, Aliko Dangote says he’s “comfortable” with the impact on his urea exports because his competitor Algeria received an even steeper 30% levy. Dangote, Africa’s richest person, made this revelation at an investment summit in Lagos, noting that 37% of his 3 million metric tons of urea production is shipped to the US. He admitted that the 14% tariff on Nigerian exports to the US initially sparked concern. But then, he discovered that Algeria had been slapped with a higher rate, giving Dangote Fertiliser a competitive edge. Dangote, whose business empire spans cement and oil refining, also revealed that the Dangote Group’s revenue projection for 2025 stands at $25 billion.