Nigerian billionaire Aliko Dangote’s conglomerate, the Dangote Group, has increased the planned investment for its fertilizer plant in Ethiopia to more than USD 4 billion, up from the USD 2.5 billion announced last year, Reuters reported.
The group said on its X account on Sunday that Dangote, along with Ethiopian Prime Minister Abiy Ahmed, visited the site of the plant in Gode to assess the progress of the construction work.
Prime Minister Abiy described the venture as a “strategic investment,” emphasizing its importance to Ethiopia’s agricultural sector.
“The initiative represents far more than infrastructure. It is a strategic investment in Ethiopia’s agricultural transformation, food security, industrial growth, and economic self-reliance. Once completed, the fertilizer 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.
The urea plant, which according to the report would end fertilizer imports for East African countries, will have a production capacity of 3 million metric tons per year.
The group said the project now has an expanded scope, including a 110-km (68-mile) pipeline, a 120-megawatt power plant, a polypropylene packaging facility, and a 2-million-ton NPK (nitrogen, phosphorus, and potassium) blending plant.
Under the initial agreement signed between state-owned Ethiopian Investment Holdings and the Dangote Group, Ethiopia will hold a 40% stake in the project, while Dangote Group will own 60%.
The plant, whose construction was officially launched in October 2025, is progressing as planned, Prime Minister Abiy said.
Recently, Dangote also announced plans to build a refinery in Kenya with a daily production capacity of 650,000 barrels per day.
