Gabon President invites Dangote to invest in cement, fertiliser production

The President of Gabon, Brice Oligui Nguema, has invited the President of Dangote Group, Aliko Dangote, to invest in cement and fertiliser production in the country.

The invitation comes amid Mr Dangote’s recent decision to halt investment in Nigeria’s steel industry to avoid the accusations of being considered monopolistic.

In a statement on Tuesday, the company said the President urged Mr Dangote to explore potential investment opportunities in the country’s cement and fertiliser sectors, specifically urea and phosphate production.

During the visit, according to the statement, Mr Dangote engaged in discussions with Mr Nguema and other top government officials.

“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,” the statement said.

It said President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments while noting that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.

On his part, Mr Dangote underscored his company’s dedication to fostering economic development across the continent.

He emphasised that investing in Gabon’s cement and fertiliser sectors aligns with Dangote Industries’ strategic vision of expanding its footprint and supporting sustainable development across Africa.

“We are excited about the opportunity to invest in Gabon. Our goal is to contribute to the country’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,” 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 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 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 the petroleum regulators in Nigeria have been at loggerheads over the control of the petroleum downstream market in the past couple of months.

Last month, the vice president oil and gas at Dangote Industries Limited, Devakumar Edwin, accused International Oil Companies (IOCs) of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals.

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He said the IOCs are deliberately frustrating the refinery’s efforts to buy local crude by jerking up the high premium price above the market price, thereby forcing it to import crude from countries as far as the United States, with its attendant high costs.

On Sunday, Mr Dangote told PREMIUM TIMES in an exclusive interview that he is willing to give up ownership of his multibillion-dollar oil refinery to Nigerian National Petroleum Company Limited (NNPC Ltd).