Africa's richest man wants his continent to grow -- and some say his project to build its largest fertiliser plant could provide relief to farmers and help put a dent in food shortages.

The project, set to come on stream in three years, may also serve as an example of how Nigeria, the continent's largest oil producer with massive untapped gas reserves, can put its often-squandered natural resources to good use.

Of course, Nigeria-based Dangote Group, headed by Aliko Dangote, once dubbed Africa's richest man by Forbes, could stand to rake in yet another small fortune along the way.

The company has set out plans for the plant to be located in the south of Nigeria in Edo state. It is to be constructed by Italian firm Saipem, though the cost of the project was not made public.

It would employ some 7,000 people, directly and indirectly, according to Dangote, and eventually allow Nigeria to stop importing fertiliser and use its wealth of natural gas reserves as part of the manufacturing process.

The plant would also produce enough to export, the company says while describing the plant as the biggest in Africa.

"There is no reason why Nigeria should be importing fertiliser," Aliko Dangote said in a statement.

"I am happy that with this agreement, by the time our plant is completed and commissioned, the country will become self-sufficient in fertiliser production and even have the capacity to export the products to other African countries."

The Nigerian programme officer for the International Fund for Agricultural Development, a UN agency, welcomed the plan.

"Whatever happens here will have a multiplier effect on the rest of Africa," said Benjamin Odoemena.

"Once there is food sufficiency in Nigeria, other African countries, including the famine-ravaged Horn of Africa, will benefit."

Of course, there are sure to be sceptics. Nigeria, Africa's most populous nation, has had a long list of highly ambitious projects that were either torpedoed by corruption or simply went nowhere.

Whether a similar fate will befall the Dangote plan remains to be seen, but the tycoon certainly has a history of successes to make his case, with his company already strong in areas including cement, flour, sugar and food production.

When operational in 2014, the plant will produce 7,700 metric tonnes per day of granulated urea, consisting of two trains with a production capacity of 3,850 metric tonnes each per day, they said.

Agriculture has long been neglected in Nigeria, with the oil industry providing some two-thirds of government revenue and more than 90 percent of export earnings.

But the oil industry provides few local jobs, while it has been estimated that agriculture employs about 70 percent of the workforce. Most are subsistence farmers.

"It will boost agricultural production in the country and tremendously increase the yields of farmers since more fertilisers will be available to them," said Ahmed Rabiu Kwa, executive secretary of the Fertiliser Suppliers Association of Nigeria, an umbrella body of 27 manufacturers and suppliers.

The president of the Lagos Chamber of Commerce and Industry, Olufemi Deru, however argued that farmers would benefit more if there was a comprehensive policy on agriculture in the country.

"What Nigeria needs at the moment is an agricultural policy that will make the sector the mainstay of the economy," Deru said.

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