President Brice Oligui Nguema of Gabon has extended an invitation to Aliko Dangote, President of Dangote Group, to invest in the country’s cement and fertilizer production sectors.
This invitation follows Mr. Dangote’s recent decision to pause investment in Nigeria’s steel industry to avoid accusations of monopolistic practices.
On Tuesday, the Dangote Group released a statement noting that President Nguema encouraged Mr. Dangote to explore investment opportunities in Gabon’s cement and fertilizer industries, specifically in urea and phosphate production.
During his visit, Mr. Dangote held discussions with President Nguema and other top government officials.
“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity,” the statement said.
The statement highlighted President Nguema’s enthusiasm for the potential partnership, emphasizing Gabon’s commitment to fostering a favorable environment for foreign investments. He noted that collaborating with Dangote Industries would bring significant benefits such as job creation, technology transfer, and enhanced industrial capacity.
Mr. Dangote reiterated his company’s dedication to promoting economic development across the continent. He emphasized that investing in Gabon’s cement and fertilizer sectors aligns with Dangote Industries’ strategic vision of expanding its footprint and supporting sustainable development throughout Africa.
“We are excited about the opportunity to invest in Gabon. Our goal is to contribute to the country’s economic diversification and industrialization efforts. By leveraging our expertise in cement and fertilizer production, we aim to support Gabon’s infrastructure and agricultural sectors,” Mr Dangote was quoted as saying in the statement.
According to the statement, 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 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,” the statement said.
In the coming months, it said 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,” it said.
The Dangote Group and Nigeria’s petroleum regulators have been in conflict over control of the petroleum downstream market for the past few months.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, recently accused International Oil Companies (IOCs) of attempting to undermine the success of Dangote Oil Refinery and Petrochemicals.
