Notore is on the verge of being acquired

𝗥𝘂𝗺𝗼𝘂𝗿𝘀 𝗼𝗳 𝗮𝗻 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻 𝗔𝗵𝗲𝗮𝗱 𝗳𝗼𝗿 𝗡𝗼𝘁𝗼𝗿𝗲 𝗣𝗹𝗰?

Industry sources suggest that Nigeria’s third-largest urea producer, Notore Plc, may soon undergo a major shift in ownership. Speculation is mounting that a consortium—allegedly led by a prominent Nigerian fertilizer importer and distributor—is preparing to acquire the fertilizer manufacturer. 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗶𝗻𝘀𝗶𝗴𝗵𝘁.

In January 2024, Notore Plc Chemical Industries revealed plans to seek shareholder approval for a private placement to raise ₦105.8 billion (approximately USD 85 million). This private placement was to be directed toward an identified investor, with terms and timing to be finalized by the company’s Board of Directors. However, any such transaction remains contingent upon multiple regulatory approvals.

Notore Plc is a key player in Nigeria’s fertilizer and agro-allied sector. The company is engaged in the manufacturing, processing, and distribution of nitrogen-based fertilizers and soil enhancement products. Its flagship urea plant, located in Onne, Rivers State, has a nameplate annual capacity of 500,000 metric tonnes, although actual production figures have remained below capacity. In 2023, Notore distributed its products through a network of approximately 68 key local distributors.

If confirmed, this potential acquisition could reshape Nigeria’s fertilizer landscape and signal increased consolidation in the industry.