₦airaland Forum

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.”

Sofnana1:
This is amazing, I wish Nigeria could do the same. Ewo ni wig ofo.

ukaface:
Why can’t African women be accepted for their natural hair? Why do we have to feel like we have ‘ landed’ when we put on this fake hair, I mean attachments and the likes😩

FORWARDEVERLY:
Make dem do am jungle justice
.
Gang rapé and strip am naked..

The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote, former Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), over an alleged $35 million fraud linked to the Brass Project.

Wabote’s arrest follows that of Akintoye Adeoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited, who is under investigation for alleged misappropriation, money laundering, and diversion of public funds.

The EFCC alleges that Akindele, who spearheaded the Energy Infrastructure Park project in Bayelsa State’s Okpoama Community, received $35 million from NCDMB for a refinery project that never materialized. Both suspects are currently in EFCC custody as investigations continue.