President Brice Oligui Nguema of Gabon has extended an invitation to Aliko Dangote, President and Chief Executive of Dangote Industries Limited, to explore investment opportunities in Gabon’s burgeoning economy.
The meeting, held in Libreville, highlighted the potential for Dangote’s involvement in cement and fertiliser production, specifically urea and phosphate.
President Nguema underscored Gabon’s readiness to foster a favorable environment for foreign investment, aiming for a partnership that promises significant benefits, including job creation, technology transfer, and industrial growth.
Gabon’s vast oil resources and commitment to economic diversification make it an attractive destination for Dangote Industries.
Dangote Cement Plc, Africa’s leading cement producer with operations in ten countries and an annual production capacity of 52.0 million tonnes, is a key player in Africa’s industrial landscape.
With revenues surpassing US$3.5 billion in 2022, Dangote Cement is Nigeria’s most capitalized company.
Dangote Fertiliser Limited also operates the continent’s largest Granulated Urea Fertiliser complex, and Dangote has launched Africa’s largest oil refinery, with a capacity of 650,000 barrels per day (BPD).
The invitation comes amid some controversy surrounding Dangote’s refinery project in Nigeria.
Despite this, Dangote reaffirmed his commitment to economic development across Africa.
He expressed enthusiasm about investing in Gabon’s cement and fertiliser industries, aligning with his company’s strategic goals to expand its footprint and support sustainable development.
Gabon, with one of Africa’s highest per capita incomes due to significant oil revenues, produces around 200,000 barrels of crude oil per day as of 2023.
The anticipated investment by Dangote Industries is poised to enhance Gabon’s industrial sector, providing essential materials for construction and agriculture and supporting President Nguema’s vision for a diversified, self-sustaining economy.
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