19 February 2019

Nigeria: Tanzania Seeks Dangote's Investment in Petroleum

Photo: Dangote
Dangote group.

Tanzania has asked the Chairman of Dangote Group, Alhaji Aliko Dangote, to invest in their country's petroleum and cement industry. This was disclosed by the Commissioner in the High Commission of the United Republic of Tanzania, Mr. Muhidini Ally Mboweto yesterday.

The diplomat said this when he led a delegation from Tanzania High Commission and the Tanzania Petroleum Development Corporation (TPDC) on a study tour of the Dangote Refinery and Fertilizer plants in Lagos.

He said collaboration between Dangote Group and the Tanzanian government will make the country self-sufficient in petroleum products.

Specifically, the ambassador appealed to Aliko Dangote to replicate his huge investment in the country's cement and refinery industries into Tanzania's petroleum refining sector.

Speaking after the tour of the refinery and fertiliser plants, Mboweto said Tanzania possesses vast natural resources and is endowed with unique comparative advantages thus offering exceptionally attractive opportunities to investors.

The ambassador flaunted Tanzania's minerals potential which are gas, gold, diamonds, and gemstones including tanzanite, base metals and a host of other minerals and disclosed that Tanzania has bilateral trade agreements with eight countries it shares borders with including the Indian Ocean, describing them as potential markets for investors.

"Tanzania has a politically stable economy; it is surrounded by eight countries and six are landlocked, so their ports depend on Tanzania. Also, we are a member of the East Africa Community, which include Burundi, Kenya, Rwanda, Tanzania, and Uganda. We are also part of a 16-country member with an average of 400 million people. So, when investing you in Tanzania, you are exposed to this huge potential.

"It is really worth investing in Tanzania because it will expose you to a large market. We want him (Dangote) to expand his investment in other areas of the economy. We have varieties of minerals, diamond, gold, and other areas. You can invest in wildlife. We also have a lot of tourist attractions", the diplomat said.

Head of quality assurance /quality control of Dangote refinery, Rama Rao Putta, said that erection of the refinery equipment has started.

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