Gabon President, Brice Oligui Nguema has invited Aliko Dangote, President of Dangote Group, to invest in the country’s cement and fertilizer sectors. This invitation follows Dangote’s recent decision to halt investment in Nigeria’s steel industry to avoid accusations of monopolistic practices.
In a statement released on Tuesday, Dangote Industries confirmed that President Nguema urged Dangote to explore investment opportunities in urea and phosphate production.
During the visit, Dangote engaged in discussions with President Nguema and other top government officials, focusing on how Dangote Industries could contribute to Gabon’s economic growth through the establishment of cement and fertilizer plants.
President Nguema expressed enthusiasm for the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments. He noted that collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.
Aliko Dangote emphasized his company’s dedication to fostering economic development across Africa, stating that investing in Gabon aligns with Dangote Industries’ strategic vision of supporting sustainable development on the continent. Dangote expressed excitement about the opportunity to invest in Gabon, aiming to contribute to the country’s economic diversification and industrialization efforts.
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 is expected to bolster Gabon’s industrial landscape, ensuring a steady supply of essential materials for construction and agriculture.
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.
The Dangote Group has been in conflict with petroleum regulators in Nigeria over control of the petroleum downstream market. Last month, Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries, accused International Oil Companies (IOCs) of attempting to frustrate the survival of Dangote Oil Refinery and Petrochemicals.
