The Dangote Group, a prominent Nigerian multinational, has announced plans to invest in Angola’s mineral resources sector and collaborate with Sonangol to support the Lobito Refinery project.
This announcement followed a meeting in Luanda on Tuesday between Dangote Group CEO Aliko Dangote and Angolan President João Lourenço.
According to a statement from CIPRA, the discussions covered oil and gas production, sugar, and cement. Speaking to the press, Aliko Dangote highlighted the similarities between Angola and Nigeria in their abundance of mineral resources, emphasizing opportunities for collaboration to maximize the use of underutilized gas.
“We view this as a chance to leverage unused gas for fostering stronger commercial relationships,” Dangote said, underscoring the group’s interest in contributing to Angola’s energy sector.
The Dangote Group also expressed specific interest in the Lobito Refinery. “We aim to work with Sonangol to explore ways of contributing to the refinery project,” said Dangote.
When asked about the financial scale of their investment, Dangote emphasized the focus on impactful outcomes for the Angolan population rather than the monetary figure. He expressed admiration for Angola’s ongoing reforms under President Lourenço’s leadership, noting the importance of African businesses supporting these efforts.
Rui Miguêns de Oliveira, Angola’s Minister of Industry and Commerce, reinforced the government’s openness to investors, particularly those from Africa.
“Angola welcomes all investors, with special interest in those from our continent, like Mr. Dangote and his group,” Oliveira stated.
Founded in 1981, the Dangote Group operates across diverse sectors, including sugar production and cement manufacturing, making it one of Nigeria’s most influential private enterprises.
Its planned investments in Angola signal a strengthening of economic ties between the two nations.
