Dangote invited to invest in Gabon amid accusation of monopoly

When he is being accused of plans to monopolise the oil sector in Nigeria, the President of Dangote Industries Limited, Alhaji Aliko Dangote, has been invited by President Brice Nguema of Gabon to invest in cement and fertiliser production in the country.

According to a statement by the media office of Dangote Group, the billionaire was invited to explore investment opportunities in cement and fertiliser in Gabon.

“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 President urged Dangote to explore potential investment opportunities in the country’s cement and fertiliser sectors, specifically urea and phosphate production,” the Dangote Group stated.

According to the statement, Dangote had talks with Nguema and other top government officials during the visit.

“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.

“President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments.

“He noted that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity,” the statement added.

Dangote had underscored his company’s dedication to fostering economic development on the continent.

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

“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.

“By leveraging our expertise in cement and fertiliser production, we aim to support Gabon’s infrastructure and agricultural sectors,” Africa’s richest man noted.

Dangote Group said the visit signified a significant step towards deepening economic ties between Nigeria and Gabon.

The company said that as it continued to explore and finalise investment opportunities, both nations anticipated mutual benefits that would propel 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.

“In the coming months, 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 added.

Recall that Dangote recently said the company would no longer invest in steel to avoid being tagged as a monopolist.

This came after the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, stated that the diesel produced by the Dangote refinery had a higher sulphur content than imported ones; a claim Dangote described as an attempt to demarket his refinery.

Ahmed also said the country would continue to import fuel to stop the Dangote monopoly.