Ethiopia’s Finance Minister Ahmed Shide has described the fertilizer investment agreement signed with the Dangote Group as a historic milestone that will usher in a “new economic renaissance” for the country by advancing agriculture, industry, and mining.
Addressing the signing ceremony in the presence of Prime Minister Abiy Ahmed, Ahmed said the $2.5 billion agreement is designed to end Ethiopia’s dependence on fertilizer imports, save close to $1 billion in foreign exchange annually, and transform the country into a regional hub for fertilizer production.
The fertilizer complex, to be established in Gode, Somali region, will utilize natural gas from the Calub and Hilala fields through a dedicated pipeline.
Mr. Ahmed emphasized that this strategic integration of Ethiopia’s domestic resources will not only boost agricultural productivity but also stimulate industrial and mining growth.
He noted that the plant will initially supply Ethiopia’s domestic market before scaling up to serve neighboring countries.
“This investment agreement reinforces our import-substitution strategy while positioning Ethiopia as a regional economic player,” the Minister stated. (FMC)
