Gabon Woos Dangote Amidst Monopoly Accusations in Nigeria
Amidst allegations of attempting to monopolise Nigeria’s oil sector, Alhaji Aliko Dangote, President of Dangote Industries Limited, has received an invitation from President Brice Nguema of Gabon to explore investment opportunities in the country’s cement and fertiliser industries. According to a statement from the Dangote Group’s media office, the Gabonese President urged Dangote to consider investments specifically in 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.”
During his visit, Dangote held discussions with Nguema and other senior government officials, focusing on how Dangote Industries could aid Gabon’s economic development by establishing cement and fertiliser plants. These industries are seen as crucial for enhancing the nation’s infrastructure and agricultural productivity.
President Nguema expressed keen interest in the potential partnership, highlighting Gabon’s dedication to fostering a favourable environment for foreign investments. He noted that collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and increased industrial capacity.
Dangote reiterated his company’s commitment to promoting economic growth across Africa, stating that investing in Gabon’s cement and fertiliser sectors aligns with Dangote Industries’ broader strategic vision of supporting sustainable development across the continent. “We are excited about the opportunity to invest in Gabon,” Africa’s richest man said, emphasizing the goal of contributing to Gabon’s economic diversification and industrialisation efforts. “By leveraging our expertise in cement and fertiliser production, we aim to support Gabon’s infrastructure and agricultural sectors.”
The visit marks a significant step towards strengthening economic ties between Nigeria and Gabon. As Dangote Industries continues to explore and finalise 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 enhance 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.
Further discussions and assessments are planned in the coming months 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.
Recently, Dangote announced that the company would refrain from investing in steel to avoid being labelled as a monopolist. This decision follows comments by Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who claimed that the diesel produced by the Dangote refinery had a higher sulphur content than imported diesel, a statement Dangote described as an attempt to undermine his refinery. Ahmed also indicated that Nigeria would continue to import fuel to prevent Dangote from monopolising the market.
