Dangote Group has announced an increase in investment from $2.5 billion to over $4 billion. According to a Sunday statement by the Dangote Group, President of Dangote Industries Limited, Aliko Dangote, received a warm welcome in Gode, Ethiopia, where he was hosted by Prime Minister Dr.
Abiy Ahmed. The move reflected expanded scope, including a 110km pipeline, a 120MW power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant. Both leaders visited the site of the proposed fertiliser plant to assess ongoing construction.
Ethiopia had signed a shareholders’ agreement with Dangote Group in August last year to establish a urea plant with a capacity of three million metric tonnes annually. READ ALSO: 63% Of Nigerians Want Reduction In Interest Rates, Says CBN Ahead Of MPC Meeting Prime Minister Abiy described the project as a strategic initiative to boost agriculture, enhance food security, and reduce import dependence.
He noted steady construction progress and expressed confidence in its impact on farmers, job creation, and economic growth. The statement added that the project reinforces Dangote Group’s commitment to industrial development across Africa.