Dangote In Angola To Formalize Investment In The Lobito Refinery (Photo)

Nigerian Tycoon in Angola to Formalize Investment in the Lobito Refinery

The tycoon and president of Dangote Industries, Aliko Dangote, Africa’s richest man, arrived in Luanda on Tuesday for a brief visit to officially open his company’s subsidiary in Angola, according to the Angolan Embassy in Nigeria.

“The businessman and his executives aim to formalize their participation in the construction of the Lobito Refinery, within the framework of investments in the Lobito Corridor, the direct acquisition and operation of oil blocks in Angola’s onshore and offshore areas, as well as the acquisition or management of cement factories,” the embassy confirmed.

Aliko Dangote was received by Angolan President João Lourenço and will hold working meetings with ministerial entities, Sonangol, the National Oil, Gas, and Biofuels Agency (ANPG), and heads of public institutions.

The Nigerian billionaire’s first step is to open a subsidiary of Dangote Industries in Angola to consolidate his investment intentions in various sectors.

In a recent meeting with Ambassador José Bamóquina Zau to finalize the Luanda agenda, Aliko Dangote expressed his enthusiasm and commitment.

“I appreciate the attention of His Excellency João Lourenço at this moment when Africa must become increasingly united with its people,” the billionaire stated, adding, “It’s true that the situation in Angola has changed significantly; we hear good news from friends who visit, which increases my satisfaction and desire to invest.”