Dangote Invited to Invest in Gabon’s Cement and Fertiliser Production, Amid Accusations of Plans to Monopolise Nigeria’s Oil Sector
In a significant diplomatic move, President Brice Nguema of Gabon has invited Nigerian billionaire Aliko Dangote to invest in cement and fertiliser production in the country. Despite being accused of plans to monopolize Nigeria’s oil sector, Dangote has expressed enthusiasm about the opportunity, stating that it aligns with the continent’s economic development.
According to a statement issued by the Dangote Group, Dangote had talks with Nguema and other top government officials during a recent visit. The discussions focused on ways to contribute to Gabon’s economic growth, particularly in the cement and fertiliser sectors, which are crucial for infrastructure development and agricultural productivity.
Dangote Underlined his company’s commitment to bolstering economic development on the continent, describing the investment as a strategic move in expanding its footprint and supporting sustainable growth.
The potential investment by Dangote Industries in Gabon is expected to boost the country’s industrial landscape and ensure a steady supply of essential materials, aligning with President Nguema’s vision of transforming Gabon into a self-sustaining economy.
Recalling a recent statement, Dangote said the company would no longer invest in steel to avoid being tagged as a monopolist. This move comes in light of allegations by the Chief Executive of Nigeria’s Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, saying that the diesel produced by the Dangote refinery had a higher sulphur content than imported ones, and implying that the country would continue to import fuel to stop the Dangote monopoly.
Despite these controversies, Dangote remains committed to investing in Gabon, stating that both nations anticipate mutual benefits from regional integration and economic progress. The details of the investment plans will be evaluated and finalised in the coming months.
The collaboration between Dangote Industries and the Gabonese government demonstrates a significant step towards deepening economic ties between Nigeria and Gabon, promising a robust and impactful partnership for the country’s industrial landscape.
