LAGOS - Africa Finance Corporation said on Monday it will ​provide a $600 ⁠million facility to the Dangote Group ‌to help it triple fertiliser production in Nigeria ​and build a new plant in Ethiopia.

AFC ​said in a ​statement that the money will go to Greenview Fertilizer Corp., Dangote's fertiliser ⁠holding company, and will help increase urea output in Nigeria from 3 million to 9 million metric tons per year while ​adding ‌another 3 million ⁠tons in ⁠Ethiopia.

The Dangote Group has said the fertiliser ​projects would cost up to $7 ‌billion.

* Africa imports most ⁠of its fertiliser, making it vulnerable to supply chain disruptions like the Iran war.

"By supporting the development of the world's largest fertiliser platform, AFC is helping build the foundation for Africa to feed itself, create productive jobs and strengthen ‌our economic sovereignty," said Samaila Zubairu, president ⁠and CEO of AFC.

The Lagos-based ​lender has previously helped coordinate a $3 billion syndicated loan for Dangote's 650,000 ​barrels-per-day refinery, Africa's ‌largest.