Amid allegations of monopolizing Nigeria’s oil sector, Alhaji Aliko Dangote, President of Dangote Industries Limited, has been invited by President Brice Nguema of Gabon to invest in the country’s cement and fertilizer production sectors.
According to a statement from the Dangote Group’s media office, President Nguema extended the invitation to Dangote to explore investment opportunities in cement and fertilizer production, specifically in urea and phosphate.
During his visit, Dangote engaged in discussions with President Nguema and other high-ranking officials about the potential contributions of Dangote Industries to Gabon’s economic growth. The talks centered on establishing cement and fertilizer plants, which are crucial for the nation’s infrastructure and agricultural productivity.
President Nguema expressed enthusiasm for the potential partnership, underscoring Gabon’s commitment to creating a favorable environment for foreign investments. He highlighted the anticipated benefits of collaboration with Dangote Industries, including job creation, technology transfer, and enhanced industrial capacity.
Dangote reiterated his company’s dedication to fostering economic development across Africa, stating that investing in Gabon’s cement and fertilizer sectors aligns with Dangote Industries’ strategic vision of expanding its footprint and supporting sustainable development on the continent.
“We are excited about the opportunity to invest in Gabon, aiming to contribute to the country’s economic diversification and industrialization efforts. By leveraging our expertise in cement and fertilizer production, we intend to support Gabon’s infrastructure and agricultural sectors,” Dangote stated.
The visit marks a significant step towards strengthening economic ties between Nigeria and Gabon. As Dangote Industries continues to explore and finalize investment opportunities, both nations anticipate mutual benefits that will drive economic progress and regional integration.
The potential investment by Dangote Industries is expected to bolster Gabon’s industrial landscape, ensuring a steady supply of essential materials for construction and agriculture. This development aligns with President Nguema’s vision of transforming Gabon into a diversified and self-sustaining economy.
Further discussions and assessments are planned in the coming months to finalize the investment plans. The collaboration between Dangote Industries and the Gabonese government holds promise for a robust partnership that will significantly impact Gabon’s economic landscape.
This invitation comes at a time when Dangote recently announced that the company would no longer invest in steel to avoid monopolistic accusations. This decision followed comments from the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, who claimed that diesel produced by the Dangote refinery had a higher sulphur content than imported ones—a claim Dangote described as an attempt to demarket his refinery. Ahmed also stated that Nigeria would continue to import fuel to prevent a monopoly by Dangote.
