By Ebi Kesiena
President Brice Oligui Nguema of Gabon has invited Aliko Dangote, President and Chief Executive of Dangote Industries Limited, to explore investment opportunities in Gabon, a nation rich in oil resources.
During their meeting in Libreville, President Nguema highlighted potential investments in cement and fertilizer production, specifically in urea and phosphate.
He expressed enthusiasm about a potential partnership, emphasizing Gabon’s commitment to creating a conducive environment for foreign investments.
Nguema noted that collaboration with Dangote Industries could bring significant mutual benefits, including job creation, technology transfer, and enhanced industrial capacity.
Nguema’s invitation to Dangote comes as the businessman faces backlash from Nigerian authorities over his 650,000-liter capacity refinery at the Lekki-Epe Expressway Free Trade Zone.
Responding, Chief Aliko Dangote reiterated his company’s dedication to fostering economic development on the continent.
He noted that investing in Gabon’s cement and fertilizer 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 industrialization efforts. By leveraging our expertise in cement and fertilizer production, we aim to support Gabon’s infrastructure and agricultural sectors,” Dangote stated.
Dangote Cement Plc, Africa’s leading cement producer, operates in ten countries with an annual production capacity of 52.0 million tonnes and revenues exceeding US$3.5 billion in 2022.
Currently, Dangote Cement is Nigeria’s most capitalized company, and Dangote Fertilizer Limited operates Africa’s largest Granulated Urea Fertilizer complex. Additionally, Dangote has launched Africa’s largest oil refinery, capable of processing 650,000 barrels per day (BPD).
Gabon, a developing nation, boasts one of Africa’s highest per capita incomes, largely due to oil revenues, which constitute a significant portion of the government budget, GDP, and exports. As of 2023, Gabon produces approximately 200,000 barrels per day (BPD) of crude oil.
