Africa’s richest man and President of the Dangote Group, Aliko Dangote, has kicked off the construction of a $2.5 billion fertiliser plant in Gode, Ethiopia.
According to a statement released by the Dangote Group on Sunday, the project is being developed in partnership with the Ethiopian Investment Holdings and is designed to produce three million metric tonnes of urea every year.
The new facility, located in Ethiopia’s south-east region, will use natural gas from the Hilal and Calub fields to power its operations. The plant aims to boost agricultural production, create thousands of jobs, and improve food security across the Horn of Africa.
Speaking at the groundbreaking ceremony, Ethiopia’s Prime Minister, Abiy Ahmed, said the project goes beyond industrial growth. He described it as a symbol of partnership, peace, and shared development.
“These projects represent our shared responsibility to harness opportunities, strengthen cooperation, and promote peace,” Abiy said. “By doing so, we elevate Ethiopia’s presence on the global stage in a way that honours the true spirit of our Ethiopian identity.”
Dangote praised the Ethiopian government for its economic reforms, infrastructure investments, and support for industrialisation. He noted that the partnership marks an important step toward achieving Africa’s goal of self-reliance in food production.
“This partnership with Ethiopian Investment Holdings represents a pivotal moment in our shared vision to industrialise Africa and achieve food security across the continent,” he said. “We are bringing decades of experience in large-scale industrial projects to ensure this becomes a key part of Ethiopia’s industrial transformation.”
He added that the Gode project would later expand into producing other fertilisers like ammonium nitrate, ammonium sulphate, NPK, and calcium ammonium nitrate, making Ethiopia a regional fertiliser hub.
Dangote also highlighted that his group’s investment in Ethiopia is not new. The company already operates a 2.5 million tonnes-per-year cement plant in Mugher and plans to double its capacity with an additional $400 million investment.
“These investments have changed Nigeria’s story. We’ve moved from being import-dependent to becoming self-sufficient and even exporters of cement, fertiliser, and petroleum products,” Dangote said. “We are ready to work with more African countries to drive their industrialisation goals.”
The business mogul also mentioned plans to establish a polypropylene bagging factory to support the new fertiliser plant in Ethiopia.
Dangote thanked financial partners such as Afreximbank, Africa Finance Corporation, Access Bank, First Bank, and Zenith Bank for backing the multi-billion-dollar project.
The President of Ethiopia’s Somali Region, Mustafa Omar, described Dangote as “the anchor investor Ethiopia has been looking for,” noting that his reputation as a trusted and respected African investor gives confidence to Ethiopia’s economic ambitions.
The Chairman of the Nigerian Exchange Group, Dr Umaru Kwairanga, also praised Ethiopia’s leadership and expressed hope for stronger economic ties between Nigeria and Ethiopia following the project’s completion.
