By John Joseph
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In a move that may be seen as a strategic diversification of his business interests, Alhaji Aliko Dangote, President of Dangote Industries Limited, has been invited by Gabonese President Brice Oligui Nguema to invest in the West African nation’s cement and fertiliser production sectors. This development comes at a time when Dangote is facing accusations of attempting to monopolise Nigeria’s oil sector.According to a statement released by the Dangote Group’s media office, the invitation was extended during a recent visit by
Dangote to Gabon, where he held talks with President Nguema and other high-ranking government officials. The discussions centred on potential investment opportunities in cement and fertiliser production, with a focus on urea and phosphate production.”President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, to invest in cement and fertiliser production in Gabon,” the statement read.
“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertiliser sectors, specifically urea and phosphate production.”Dangote’s proposed investment in Gabon’s cement and fertiliser sectors aligns with his company’s strategic vision of expanding its footprint across Africa while supporting sustainable development on the continent. The move is expected to contribute to Gabon’s economic diversification and industrialisation efforts, with Dangote expressing excitement about the opportunity to invest in the country.
“We expressed excitement about the opportunity to invest in Gabon, saying the goal was to contribute to the country’s economic diversification and industrialisation efforts,” Dangote said. “By leveraging our expertise in cement and fertiliser production, we aim to support Gabon’s infrastructure and agricultural sectors.”The potential partnership between Dangote Industries and the Gabonese government is anticipated to bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.
President Nguema has expressed enthusiasm about the collaboration, highlighting Gabon’s commitment to creating a conducive environment for foreign investments.”President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments,” the statement added. “He noted that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.
“This development signifies a significant step towards deepening economic ties between Nigeria and Gabon, with both nations expecting mutual benefits that will propel economic progress and regional integration. As Dangote Industries continues to explore and finalise investment opportunities in Gabon, the company’s dedication to fostering economic development on the continent remains unwavering.However, this move comes amidst accusations that Dangote is attempting to monopolise Nigeria’s oil sector. The Chief Executive of the Nigerian Midstream and
Downstream Petroleum Regulatory Authority, Farouk Ahmed, recently stated that the diesel produced by the Dangote refinery has a higher sulphur content than imported ones, a claim Dangote has vehemently denied.In response to these accusations, Dangote has emphasized his company’s commitment to fair competition and announced that it would no longer invest in steel to avoid being tagged as a monopolist. Despite these challenges, Dangote’s expansion into Gabon’s cement and fertiliser sectors is expected to bolster the country’s industrial landscape, ensuring a steady supply of essential materials for construction and agriculture.
“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,” the statement read. “This development aligns with President Nguema’s vision of transforming Gabon into a diversified and self-sustaining economy.
“As the collaboration between Dangote Industries and the Gabonese government progresses, further discussions and assessments will be conducted to finalise the investment plans. The partnership holds promise for a robust collaboration that will significantly impact Gabon’s economic landscape.