President, Dangote Group, Aliko Dangote has been enjoined to bring investments into Tanzania’s oil sector. Tanzania’s High Commissioner to Nigeria, Muhidini Ally-Mboweto made this call.
In order to seek collaboration between Dangote Group and the Tanzanian government in making the country self-sufficient in petroleum products, 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.
In a statement made available to newsmen by the Dangote Group, 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.
“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.” Ally-Mboweto was quoted.
The African richest man has in the past months dedicated most of his resources and commitments in establishing the largest single train petroleum refinery in the world, with a capacity to process 650,000 barrels per day of crude oil.
In view of this, the Dangote Refinery has been lauded by investors and industry stakeholders, as many believed it will be a boost for Nigeria’s economy when the refinery’s operation commences.
Nairametrics had reported that the Dangote Petroleum Refinery will create $11 billion per annum market for Nigerian crude.
Dangote said that upon completion, the Dangote Refinery will meet 100 per cent daily Nigerian consumption of all refined products and would also have the surplus for export.