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President Brice Oligui Nguema of Gabon has invited Africa’s wealthiest man, Aliko Dangote, to invest in his country.

According to Dangote Industries Limited, the billionaire was asked to explore investment opportunities in Cement and Fertiliser (Urea and Phosphate).

“President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon,” Dangote Group said in a statement.

“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production.

According to the statement, Dangote conversed 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 fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity,” Dangote Group said.

Monthly Subsidy: Oil marketers project a monthly subsidy of about N707 billion due to the high landing cost of petrol

Landing Cost: The landing cost of petrol is N1,117 per liter, which is the main reason for the high monthly subsidy

Dangote Refinery: The Dangote Petroleum Refinery is expected to begin petrol production in August, but the company might export the product due to crude oil supply crisis and regulatory challenges

Government Intervention:  The Minister of State for Petroleum Resources, Heineken Lokpobiri, met with officials of Dangote refinery and other stakeholders to address the concerns between Dangote refinery and oil sector regulators and operators

House of Representatives: The House of Representatives inaugurated an investigative committee to look into the non-availability of crude oil to domestic refineries and allegations of deliberate hike in the cost of the product for profiteering