Africa’s richest man, Aliko Dangote, has signed a $2.5 billion agreement with the Ethiopian government to build one of the world’s largest fertiliser plants in Gode, southeastern Ethiopia.
The agreement, signed on Thursday, gives Dangote Group 60 percent ownership of the plant, while Ethiopian Investment Holdings will hold the remaining 40 percent.
According to the details of the deal, the plant will have an annual production capacity of three million metric tonnes of urea, ranking it among the top five fertiliser producers in the world. Construction is expected to be completed within 40 months.
Dangote said the project reflects a shared vision to industrialise Africa and boost agricultural production across the continent. “This partnership demonstrates what can be achieved when we combine resources and commitment to unlock Africa’s potential,” he said.
Ethiopian Prime Minister Abiy Ahmed described the deal as a major step toward food self-sufficiency and economic growth. “This is more than an investment. It is a bold move toward food sovereignty for our country and the entire region,” he said.
The Chief Executive Officer of Ethiopian Investment Holdings, Dr Brook Taye, said the plant will support Ethiopia’s industrial growth and strengthen its agriculture sector. He added that the project will create jobs and reduce the country’s dependence on fertiliser imports.
The project will also include a gas pipeline linking the plant to the Calub and Hilala gas fields to ensure a steady energy supply. Officials said the pipeline would also support future expansion into the production of ammonia-based fertilisers.
