THE President of Gabon, Brice Oligui Nguema, has invited the Chairman of Dangote Industries Limited, Aliko Dangote, to invest in cement and fertiliser production in his country.

This is even as the Association of Nigeria (MAN) has called for the protection of local businesses following the yet-to-be-resolved feud between the Dangote Refinery and the regulatory authorities in the Nigerian oil and gas sector.

In a statement on Tuesday, July 23, the company said the Gabonese President asked the Dangote chairman to explore potential investment opportunities in the country’s cement and fertiliser sectors, specifically urea and phosphate production.

President Nguema’s invitation comes amid Dangote’s recent decision to halt investment in Nigeria’s steel industry to avoid the accusations of being considered monopolistic.

The meeting focused on how the 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.

Dangote’s potential investment 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,” it stated.

The request by the Gabonese government underscores Dangote Industries’ vision of fostering economic development across the African continent.

However, the Dangote Group boss recently faced an outburst for seemingly exuding a monopolistic tendency in the Nigerian oil and gas market.

The company had been at loggerheads with the Nigerian petroleum regulators over the control of the petroleum downstream market in the past couple of months.

Of particular emphasis recently is the comment by the chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.

Ahmed alleged petroleum products from the Dangote Refinery were of inferior quality compared to imported products.

His comment sparked criticism and had been interpreted to mean the seemingly demarketing of the Dangote Refinery.

At its plenary session on Tuesday, July 23, the House of Representatives called for the removal of the NMDPRA boss.

While the Gabon government desires Dangote’s investment, the Manufacturers Association of Nigeria (MAN) said the Nigerian government needed to support and protect local businesses.

The director-general of MAN, Segun Ajayi-Kadir, in a statement on Tuesday, July 23, said it was expected that agencies of government providing regulatory oversight functions should promote an enabling business environment for local investments to thrive.

He expressed worries that no regulatory agency should be seen to be casting a shadow over a homegrown investment like the Dangote Refinery, urging the government to clarify the issue.

“The allegations of poor quality, monopolistic tendencies, and non-issuance of licence have since been roundly debunked. There may then be the need to issue a clarification that absolves the Dangote Refinery of the negative perception generated by the news report,” he said.

Ajayi-Kadir noted that local investors including the Dangote Industries played a vital role in driving economic growth, paying taxes, creating jobs, and fostering development within the country.

“As such, it is important that these investors are protected and given the necessary support to thrive in this business environment,” Ajayi-Kadir maintained.

He said particularly that a business tycoon like Dangote, with investments in diverse sectors of the economy and across the African continent, should be accorded all needed support to grow and invest in more sectors and positively impact the well-being of the people.

“There is no gainsaying the fact that Dangote Refinery is deserving of government’s protection and support,” he said.

The 650,000-capacity Dangote refinery described as the largest single-train refinery in the world, will significantly reduce Nigeria’s dependence on imported petroleum products, reduce cost and energy poverty, and boost its energy sufficiency, among other benefits, many industry watchers believe.

“We should never encourage or promote a preference for imported products over local alternatives. This amounts to importing poverty and exporting prosperity.

“As you are aware, the manufacturing sector is beset with multifaceted challenges. They include the high cost of electricity, high cost of compliance with regulatory requirements, lack of access to financing, unfavourable foreign exchange and unfair competition from imported and smuggled products.

“It is therefore imperative that the Nigerian government takes proactive steps to address these binding constraints in order to improve the competitiveness of local industries and enhance their contribution to the GDP,” Ajayi-Kadir added.

Also, Nigerian businessman and billionaire Femi Otedola has likewise urged the government to support local businesses, stressing that supporting Dangote was crucial to the country’s growth and economic development.