Nigerian billionaire Aliko Dangote, Africa’s richest man, has pledged a transformative contribution to Ethiopia's development, announcing a massive fertiliser manufacturing complex with the potential to reshape the nation’s agricultural landscape and bolster its export economy. The project, formalised through a joint venture agreement with Ethiopian Investment Holding, aims to produce up to 3 million tons of urea fertiliser, positioning it as the second-largest urea plant globally.
Speaking at the signing ceremony, Dangote emphasised his commitment to the continent, stating, "Ethiopia is Africa, so I will contribute to its development."
He underscored the strategic importance of the investment, highlighting Ethiopia’s abundant natural gas reserves, a crucial raw material for urea fertiliser production. The project is poised to significantly reduce Ethiopia's reliance on fertiliser imports, paving the way for self-sufficiency and potential export opportunities.
The ambitious project dwarfs Ethiopia's domestic urea consumption, signalling a paradigm shift from importer to exporter. Dangote envisions the complex producing not only urea but also a diverse range of fertilisers, catering to various agricultural needs and exceeding national demand. This surplus production will allow Ethiopia to tap into regional and international markets, generating substantial revenue and boosting its economy.
Dangote lauded Prime Minister Abiy Ahmed’s leadership, attributing the project’s realisation to his "visionary" approach to agriculture and food security. He emphasised the Prime Minister’s commitment to creating a conducive environment for investment and fostering economic growth.
Dangote’s existing cement factory in Ethiopia further solidifies his commitment to the nation's industrial development, with plans for future expansion, particularly within the fertiliser sector.
Beyond the immediate economic impact, Dangote highlighted the potential for job creation and skills development within the local community.
He reiterated the Dangote Group’s dedication to partnering with the Ethiopian people to drive positive change and create opportunities.
"We will create opportunities for many in every project because the good people of Ethiopia and Prime Minister Abiy are our good partners," Dangote affirmed.
He further dismissed notions of being a foreign investor, emphasising his African identity and shared responsibility for the continent's progress.
"I am not a foreigner, I am an African, so Ethiopia is my home," he declared, solidifying his commitment to the nation's long-term prosperity.
The fertiliser complex represents not just a significant investment but a powerful symbol of intra-African cooperation and a shared vision for a more prosperous future.
On the occasion, it was noted that with construction expected to commence soon, Ethiopia stands on the cusp of an agricultural revolution, powered by its own resources and the unwavering support of a committed African investor.
