Dangote lifts Ethiopia plant spend to $4bn

Dangote Group has lifted planned investment in its Ethiopian fertiliser project to more than $4 billion, adding NPK capacity and key infrastructure to a urea complex first costed at about $2.5 billion under a 2025 deal with Ethiopia’s sovereign wealth fund.

Dangote disclosed the higher figure during a mid‑May visit by Nigerian billionaire Aliko Dangote and Ethiopian prime minister Abiy Ahmed to the construction site in Gode, in Ethiopia’s Somali region. The project was originally set out in an August 2025 shareholders’ agreement between Dangote Group and Ethiopian Investment Holdings (EIH), which put development costs for a urea fertiliser plant at up to $2.5 billion and gave Dangote a 60% stake and EIH 40%.