Aliko Dangote, Africa’s richest man, has signed a $2.5 billion partnership agreement with the Ethiopian government to construct one of the world’s largest single-site fertilizer plants in Gode, Somali Regional State.
The agreement was signed on Thursday between Dangote Group and Ethiopian Investment Holdings (EIH), enabling Dangote Group to hold a 60 percent equity stake, while EIH will retain 40 percent.
The facility, when completed, will rank among the top five largest urea production complexes globally, with an annual capacity of up to three million metric tonnes.
According to EIH, the project will be completed within 40 months and will include dedicated pipelines to transport natural gas from Ethiopia’s Calub and Hilala gas fields.
Provisions are also being made for future expansion into ammonia-based fertilisers, underscoring the project’s long-term strategic importance.
“This landmark agreement with Dangote Group marks a significant milestone in Ethiopia’s journey toward industrial self-sufficiency and agricultural modernization,” said Brook Taye, Chief Executive Officer of EIH.
He added that the project will deliver energy security, increase productivity, and create “tremendous value” for Ethiopian farmers.
Ethiopian Prime Minister Abiy Ahmed who was present at the signing, described the project as a decisive step toward achieving food sovereignty.
“With an investment of $2.5 billion, this mega project will produce up to three million metric tons of fertiliser annually, placing Ethiopia among the largest producers globally. It will create jobs locally, ensure reliable fertiliser supply, and strengthen our agricultural transformation,” he said.
On his part, Aliko Dangote said the partnership reflects his vision of accelerating Africa’s industrialisation and enhancing food security across the continent.
“We are committed to bringing our decades of experience in large-scale industrial projects to ensure this venture becomes a cornerstone of Ethiopia’s industrial transformation and a catalyst for agricultural productivity throughout the region,” Dangote stated.
MG/as/APA