President Brice Nguema of Gabon has urged Aliko Dangote, President of Dangote Industries Limited, to invest in the country’s cement and fertiliser manufacturing.
According to a statement issued on Tuesday by Dangote Group’s media office, the billionaire was asked to examine investment potential in cement and fertiliser at a time when the Nigerian government accuses him of attempting to monopolise the country’s oil industry.
“President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote, to invest in cement and fertiliser production in Gabon.
“The president urged Dangote to explore potential investment opportunities in the country’s cement and fertiliser sectors, specifically urea and phosphate production,” the Dangote Group stated.
During his visit, Dangote met with Nguema and other high-ranking government officials, the statement said.
“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertiliser plants, which are vital for the country’s infrastructure development and agricultural productivity.
“President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments.
“He noted that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity,” the statement added.
Dangote had emphasised his company’s commitment to promoting economic development across the continent.
He underlined that investing in the country’s cement and fertiliser sectors is consistent with Dangote Industries’ strategic aim of increasing its footprint and promoting sustainable development throughout Africa.
We were excited about the possibility to invest in Gabon, claiming our goal was to help the country’s economic diversification and industrialization efforts.
“By leveraging our expertise in cement and fertiliser production, we aim to support Gabon’s infrastructure and agricultural sectors,” the richest man in Africa noted.
According to the Dangote Group, the visit is an important step towards strengthening Nigeria-Gabon business ties.
The business stated that as Dangote Industries continues to investigate and finalise investment prospects, both countries anticipate mutual advantages that would accelerate economic advancement and regional integration.
The statement added, “The potential investment by Dangote Industries in Gabon is expected to bolster the country’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.
“In the coming months, further discussions and assessments will be conducted to finalise 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.”
Remember that Dangote recently stated that the company will no longer invest in steel to avoid being labelled as a monopolist?
This arose when Farouk Ahmed, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, claimed that the diesel generated by the Dangote refinery had a greater sulphur content than imported diesel, which Dangote termed an attempt to demarket his refinery.
Ahmed also stated that the country would continue to buy fuel to end the Dangote monopoly.
