President Adama Barrow has announced that Africa's leading industrialist, Alhajie Aliko Dangote, has committed to invest US$2 billion in The Gambia after a meeting in State House on Tuesday July 7, 2026.
Dangote was in the Gambia at the invitation of President Adama Barrow, joining policymakers, entrepreneurs, and development partners at the ongoing African Caucus in Banjul.
After addressing the delegates at the Caucus, Dangote held a tete-a-tete bilateral meeting with President Barrow attended by Cabinet Ministers; Commissioner General of the Gambia Revenue Authority (GRA); Governor of the Central Bank of the Gambia; private sector leaders; etc. at the State House before his departure.
The announcement followed a meeting at State House in Banjul, where President Barrow received Alhajie Dangote alongside the Chief Executive Officer of the First Bank Group, Mr Olusegun Alebiosu, a supporting partner in the initiative.
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The State House announced in a media release that the engagement culminated in a landmark commitment to two transformative projects: the establishment of a 250-megawatt solar power plant and the development of a modern fuel tank farm to strengthen national fuel storage and supply security.
The 250-megawatt solar power plant, it said, will substantially expand The Gambia's electricity generation capacity, accelerate the country's transition to renewable energy, and support the Government's commitment to delivering reliable and affordable power to households, businesses, and industries.
It also noted that the fuel tank farm will establish strategic petroleum storage capacity, safeguarding the country against supply disruptions and contributing to price stability for Gambian consumers.
Receiving the delegation, President Barrow welcomed the partnership as a strong vote of confidence in The Gambia's stability, reform agenda, and investment climate.
The Gambian leader affirmed his Government's full commitment to facilitating the timely realisation of the projects and directed the relevant Ministries, Departments, and Agencies (MDAs) to work closely with the Dangote Group's technical teams to advance implementation.
For his part, Alhajie Dangote commended President Barrow for his leadership and for the warm hospitality extended to his delegation, reaffirming the Dangote Group's confidence in The Gambia as an investment destination and its readiness to deliver projects of the highest international standard.
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The State House announced that the two sides agreed to formalise the partnership through the conclusion of the requisite agreements, the conduct of feasibility and technical studies, and the establishment of joint implementation structures to translate the commitment into delivery.
"The Government of The Gambia views this partnership as a significant milestone in its national development agenda and a clear demonstration of the growing confidence of leading African investors in the Gambian economy," the release stated, reassuring President Barrow administration's commitment to championing intra-African trade and investment and to welcoming serious investors into the Gambian economy.
