Dangote Sees Ethiopia as Africa’s Fertilizer Powerhouse with $2.5 Billion Investment

Addis Ababa, August 28, 2028 (FMC) – Africa’s leading industrialist Aliko Dangote has hailed Ethiopia as a premier destination for fertilizer investment, following the signing of a landmark $2.5 billion agreement with the government to establish one of the world’s largest fertilizer complexes.

In the presence of Prime Minister Abiy Ahmed, Ethiopian Investment Holdings and Dangote Industries Limited concluded a Fertilizer Complex Shareholder Investment Agreement, marking what Dangote described as a transformative step for Ethiopia’s agriculture-driven economy.

“The nature of the investment here is to produce about 3 million metric tons of urea annually. Moving from zero to 3 million tons is a major milestone—well beyond Ethiopia’s current consumption. It is a huge, gigantic project,” Dangote said.

He noted that this scale of production would place Ethiopia alongside global leaders, citing Nigeria’s facility, the second-largest urea plant in the world, as a comparison.

Dangote emphasized that Ethiopia’s abundant natural gas reserves make it uniquely positioned to host such a project. “Ethiopia is a very good destination. The raw material of producing urea is natural gas. If you don’t utilize your raw material, you end up importing fertilizer daily, often at great cost and with delays,” he remarked.

The Nigerian billionaire praised Ethiopia’s agricultural reform agenda under Prime Minister Abiy Ahmed, calling him a “visionary leader” committed to boosting productivity and ensuring national prosperity.

“What he’s doing right now is to massively expand agriculture, to make sure it becomes a driver of Ethiopia’s prosperity,” Dangote said.

He further disclosed that Dangote Industries plans to diversify its footprint in Ethiopia beyond fertilizer, including expansions in cement and exploration of new sectors such as gold.

“Ethiopia will be a net exporter, not an importer anymore. We’re already in cement here, and we intend to keep expanding. We are also looking at opportunities in gold, which is a new frontier for us,” he revealed.

Dangote underscored Ethiopia’s growing appeal as an investment destination and framed his company’s involvement as part of a wider continental responsibility.

“Ethiopia is really opening up for business. It is our duty as Africans to ensure that Ethiopia succeeds. Foreigners will not come and develop this economy. I am not a foreigner—I am an African. With the African Union headquartered here, Ethiopia represents Africa, and I feel obliged to contribute to its growth and prosperity,” he affirmed.