Dangote Signs $2.5bn Deal for Ethiopian Fertiliser Plant

Africa’s richest man, Aliko Dangote, has signed a multibillion-dollar deal with the Ethiopian government to build a $2.5 billion fertiliser plant in the country’s eastern Somali region.

TIMES OF NIGERIA gathered that the agreement, signed in Addis Ababa on Thursday, gives Dangote a 60 per cent stake in the project, while 40 per cent will be held by Ethiopian Investment Holdings (EIH).

The facility, expected to be completed within 40 months, will produce 3 million tonnes of fertiliser annually.

It will be connected by pipeline to the Calub and Hilala natural gas fields to guarantee feedstock supply.

Prime Minister Abiy Ahmed hailed the venture as transformative.

“This project will create jobs, ensure reliable supply for our farmers, and mark a decisive step towards food sovereignty,” he said.

EIH said the development would reduce Ethiopia’s dependence on imports and ease pressure on foreign reserves.

Dangote, whose cement empire spans ten African countries, already operates a 3-million-tonne fertiliser facility in Nigeria.

He described the Ethiopian project as “a pivotal moment in our shared vision to industrialise Africa and achieve food security across the continent.”