Africa’s richest man stuns Ethiopia with fresh $4 billion fertiliser investment

• Aliko Dangote visited Gode, Ethiopia, where he received a hero’s welcome during an inspection of the Dangote fertiliser plant project.

• Abiy Ahmed accompanied Dangote to the construction site and described the project as vital for Ethiopia’s food security and industrial growth.

• Dangote Group increased the project investment from $2.5 billion to over $4 billion, adding infrastructure including a power plant, pipeline, packaging facility and NPK blending plant.

• The fertiliser plant, expected to produce three million metric tonnes of urea annually, is designed to reduce Ethiopia’s reliance on fertiliser imports and support millions of farmers.

Africa’s richest man, Aliko Dangote, received a warm reception in Gode, Ethiopia, during a visit linked to the Dangote Group’s massive fertiliser plant project in the East African country.

Dangote was welcomed by Ethiopian Prime Minister Abiy Ahmed as both leaders toured the construction site of the proposed fertiliser facility on Sunday.

The project is one of the biggest industrial investments currently underway in Ethiopia. In August 2025, Ethiopia signed a shareholders’ agreement with Dangote Group for the development of a urea fertiliser plant expected to produce three million metric tonnes annually.

Construction of the plant officially began in October 2025. Under the agreement, Dangote Group holds a 60 per cent stake in the joint venture, while Ethiopian Investment Holdings owns the remaining 40 per cent.

During the visit, Dangote revealed that the total investment in the project has now increased from the earlier announced $2.5 billion to more than $4 billion.

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According to a statement from Dangote Group, “Dangote announced an increase in investment from $2.5 billion to over $4 billion, reflecting expanded scope, including a 110km pipeline, a 120MW power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant.”

The fertiliser project is expected to strengthen Ethiopia’s agriculture sector and reduce the country’s dependence on imported fertiliser. Ethiopia remains one of Africa’s largest agricultural economies, with millions relying on farming for livelihoods.

Prime Minister Abiy Ahmed described the investment as critical to the country’s long-term economic plans.

“This initiative represents far more than infrastructure. It is a strategic investment in Ethiopia’s agricultural transformation, food security, industrial growth, and economic self-reliance,” Abiy said.

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He added that the fertiliser plant would deliver major benefits to the country once completed.

“Once completed, the fertiliser plant will play a vital role in strengthening local production capacity, reducing dependence on imports, supporting millions of farmers, and creating new opportunities for jobs and investment,” he said.

Speaking further after inspecting the site alongside Dangote, the Ethiopian leader expressed satisfaction with the pace of work already achieved.

“This morning, together with Aliko Dangote, I visited the project site in Gode to assess the progress achieved so far. I am encouraged by the steady momentum across the project area.

“Construction activities are advancing as planned across multiple sections of the site, reflecting the strong commitment and collaboration driving this important national project forward,” he stated.

Dangote Group also noted that the investment highlights the company’s growing footprint across Africa and its continued push for industrial development on the continent.

The Ethiopian fertiliser project adds to Dangote Group’s expanding operations outside Nigeria, especially in sectors such as cement, fertiliser, petrochemicals and agriculture.