Victor EzejaIn its quest to boost food security, the Ethiopian government has signed an agreement with Dangote Group to build a $2.5 billion fertiliser complex
The plant, when completed, is expected to produce about three million metric tons of fertiliser every year.
Join our WhatsApp ChannelThis was confirmed in a statement released on Thursday, signed by the Ethiopian prime minister, Abiy Ahmed Ali.
Ali said the signing of the agreement marks another milestone in the country’s journey towards food security and agricultural transformation.
“Today, we signed the Fertilizer Complex Shareholder Investment Agreement between Ethiopian Investment Holdings and Dangote Group,” he said.
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“With an investment of $2.5 billion, this mega project will produce up to 3 million metric tons of fertilizer annually, placing Ethiopia among the largest producers globally.”
He said the project, which is set for completion within 40 months, will create jobs locally and ensure a reliable supply of fertilizer to farmers.
Ali stated that it strengthens Ethiopia’s competitiveness in Africa and demonstrates the country’s commitment to making strategic investments that benefit Ethiopians and secure their future.
In May, the President of Dangote Group, Aliko Dangote, said the company is targeting a $7 million daily revenue from the sale of fertiliser in the next two years.
