Brice Oligui Nguema, the president of Gabon, has extended an invitation to Aliko Dangote, the president of the Dangote Group, to invest in the nation's cement and fertilizer manufacturing.
The invitation was sent out in the wake of Mr. Dangote's recent decision to stop funding the steel sector in Nigeria in order to allay claims that he was acting in a monopolistic manner.
The President encouraged Mr. Dangote to look into possible investment opportunities in the nation's cement and fertilizer industries, particularly urea and phosphate production, the business said in a statement on Tuesday.
The statement claims that throughout the visit, Mr. Dangote had conversations with Mr. Nguema along with other high ranking authorities.
The statement stated, "The discussions centered on how Dangote Industries could support Gabon's economic development by establishing cement and fertiliser plants, which are essential for the nation's infrastructure development and agricultural productivity."
According to the report, President Nguema expressed excitement about the possible alliance while stressing Gabon's dedication to fostering an atmosphere that welcomes foreign investment. He also mentioned that the partnership with Dangote Industries would have major advantages, such as increased industrial capacity, job creation, and technology transfer.
Mr. Dangote emphasized that his business is committed to promoting economic growth throughout the continent.
He emphasized that promoting sustainable development throughout Africa and growing Dangote Industries' footprint are strategic goals that are in line with investing in Gabon's cement and fertilizer industries.
"We are thrilled to have the chance to make investments in Gabon. Our objective is to support the nation's efforts to industrialize and diversify its economy. In the release, Mr. Dangote was cited as adding, "We aim to support Gabon's infrastructure and agricultural sectors by leveraging our expertise in cement and fertiliser production."
The visit, according to the statement, is a critical step in enhancing the commercial relationship between Gabon and Nigeria.
As Dangote Industries pursues and concludes investment prospects, both countries look forward to reciprocal advantages that will propel economic development and regional integration.
Dangote Industries' possible investment in Gabon is anticipated to support the nation's industrial landscape and guarantee a consistent supply of vital resources for agriculture and building. This progression is consistent with President Nguema's idea of making Gabon's economy more diverse and self-sufficient," the statement read.
It stated that more talks and evaluations will take place in the upcoming months in order to finalize the investment plans.
Dangote Industries and the Gabonese government are working together in a way that "holds promise for a robust partnership that will significantly impact Gabon's economic landscape."
For the past few months, there has been a power struggle between the Nigerian petroleum authorities and the Dangote Group for control of the downstream petroleum market.
Devakumar Edwin, vice president of oil and gas at Dangote Industries Limited, charged last month that International Oil Companies (IOCs) were taking all necessary steps to obstruct Dangote Oil Refinery and Petrochemicals' ability to continue operating.
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