Tanzania Wants Dangote To Invest In Country’s Oil Industry

Aliko Dangote Aliko Dangote

Tanzania’s High Commissioner to Nigeria, Muhidini Ally-Mboweto, has sought the assistance of the President, Dangote Group, Aliko Dangote, in the development of his country’s oil and gas industry, Nigeria’s Punch Newspaper reported.

Ally-Mboweto led a delegation from Tanzania High Commission and the Tanzania Petroleum Development Corporation on a study tour of the Dangote refinery and fertiliser plants to seek collaboration between Dangote Group and the Tanzanian government in making the country self-sufficient in petroleum products, according to a statement from Dangote.

Ally-Mboweto was quoted as saying, “Tanzania possesses vast natural resources and is endowed with unique comparative advantages, thus offering exceptionally attractive opportunities to investors.”

According to him, Tanzania has gas, gold, diamonds, and gemstones including tanzanite and base metals. He said the country had bilateral trade agreements with eight countries including the Indian Ocean, describing them as potential markets for investors.

Ally-Mboweto said, “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 you invest 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.”

He commended Dangote for helping to reduce the price of cement in Tanzania through his massive investment in the country’s cement industry.

“Dangote Cement is already in Tanzania and the plant is doing very well. So, the Dangote Cement plant has made a huge contribution to our cement demand. Now, the majority of the people in Tanzania can access cement for their building construction,” he added.

Last modified onWednesday, 13 March 2019 11:01

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