₦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.”

Source https://www.forbesafrica.com/current-affairs/2024/11/27/nigerian-tycoon-in-angola-to-formalize-investment-in-the-lobito-refinery/

Dangote.... The honey man..... Monopolize everywhere my brother... Give them premium monopoly

Ok

Poverty na bstrd I swear

Lol Indians scammed him. The refinery is unworkable after almost 10 years of investing more than $30b into it from Nigerian forex and all kinds of loans. Naira to dollar exchange rate was very stable in Nigeria until he bought Jonathan into the biggest refinery in Africa idea towards the end of his government in 2014 and he started pumping dollars from our dollar reserves hoping to end fuel problems in Nigeria and west Africa. Within months in 2014 dollar jumped from 120 to 180. Buhari continued with same nonsense and dollar reached 700 before he left office and refinery still not completed. Emilokan as thief man saw what was going on and stopped funding of that refinery with our forex but the damage to our currency had already been done. Total loss of trust in our currency had led to massive hoarding of dollars and scarcity which affected the naira that even floating of naira by tinubu couldn’t salvage the problem. Same dangote moved again by trying to push independent petroleum marketers out of business, import fuel and sell to Nigerians at higher price by using his uncompleted refinery as a conduit pipe to get forex. He showed his hand again and Emilokan saw it when he demanded for billions of dollars to import crude three weeks ago, now he is going to Angola to be a partial owner of a working refinery

Dangote is blessed mehn!
I pray to God to bless me and my family.
Click like if you want God to bless you too.

when you are big...doors stays open for u... big up

African leaders living in the delusion of their slave masters coming to invest and develop their land. If your colonisers develop your land, who will now do the slave jobs in the western countries?

The only way for Africa is to look inward.

Angola finally picked up sense from somewhere.

This greedy business who want to remain Africa richest man by all means

Dangote wan japa

bobby007:
This greedy business who want to remain Africa richest man by all means

Greedy for doing business?
Wow, see Nigerian youth brain on display.

Aliko Dangota..................... my mentor

lol…na our money this one take go open another branch

A

Everybody have contributed to aliko dangote richness,
The suffering we are going through now ,
Is as a result of him,
His sales of fuel must be at international rate, that’s why they have to jack everything up and devalue the Naira more.

bobby007:
This greedy business who want to remain Africa richest man by all means

You couldn't use the word "monopoly" right, so you had to invent "greedy" abi?

When I see some Nigerians carelessly throw the word monopoly around Dangote, I laugh! Oya let's wail! He was wants to go "monopolise" Angola

Dangote, African version of Elon Musk

Dittodat:
Greedy for doing business?
Wow, see Nigerian youth brain on display.

It is scary the our Youth think

Alhaji don dey run his race jejeli . Competing with himself.. Make you try dey rest o

Kudos to Alhaji Aliko Dangote, Africa's richest man!


However, it's incumbent on Dangote to assuage the pains of Nigerians back home since most of his products have been priced beyond the reach of average Nigerians.



If he continues on this same trajectory in Angola, poor Angolans may discover, probably belatedly, that the man is only out for the super rich.



The common people people have no place in his "Shylock" scheme of things.





@hotseat

aariwa:
Lol Indians scammed him the refinery is unworkable after almost 10 years of investing more than $30b into it from Nigerian forex and the kinds of loans. Naira to dollar exchange rate was very stable in Nigeria until he bought Jonathan into the biggest refinery in Africa idea towards the end of his government in 2014 and he started pumping dollars from our dollar reserves hoping to end fuel problems in Africa. Within months in 2014 dollar jumped from 120 to 180. Buhari continued with same nonsense and dollar reached 700 before he left office and refinery still not completed. Emilokan as thief man saw what was going on and stopped funding of that refinery with our forex but the damage to our currency had already been. Total loss of trust had led to massive hoarding of dollars and scarcity which affected the naira that even floating of naira by tinubu couldn’t salvage the problem. Same dangote moved again by trying to push independent petroleum marketers out of business by importing fuel and selling to Nigerians at higher price through using his uncompleted refinery as a conduit pipe to get forex. He showed his hand again and Emilokan saw it when he demanded for billions of dollars to import crude, now he is going to Angola to be a partial owner of a working refinery

Oponu!

Angola means business, I’m currently in Cabinda and right now there’s another refinery construction ongoing….

This man wan monopolize the whole of Africa

EponObi:
Oponu!

Ode

bobby007:
This greedy business who want to remain Africa richest man by all means

Who's holding you back from being greedy with your own business? That's if you have one sef. Mumu

Angola is reaping rewards of leaving OPEC

Horus:
Source https://www.forbesafrica.com/current-affairs/2024/11/27/nigerian-tycoon-in-angola-to-formalize-investment-in-the-lobito-refinery/

Dangote is running a race to become the richest man in the world. Humans wants and needs are insatiable.

Well, I love this move being in an African country.

WeddingParol:
African leaders living in the delusion of their slave masters coming to invest and develop their land. If your colonisers develop your land, who will now do the slave jobs in the western countries?

The only way for Africa is to look inward.

Angola finally picked up sense from somewhere.

This is Deep 🤣

bobby007:
This greedy business who want to remain Africa richest man by all means

He does not block you from investing like he's doing.
Don't wait there and allow hatred consume your entire life

Discussion between you and your barber.

aariwa:
Lol Indians scammed him. The refinery is unworkable after almost 10 years of investing more than $30b into it from Nigerian forex and all kinds of loans. Naira to dollar exchange rate was very stable in Nigeria until he bought Jonathan into the biggest refinery in Africa idea towards the end of his government in 2014 and he started pumping dollars from our dollar reserves hoping to end fuel problems in Nigeria and west Africa. Within months in 2014 dollar jumped from 120 to 180. Buhari continued with same nonsense and dollar reached 700 before he left office and refinery still not completed. Emilokan as thief man saw what was going on and stopped funding of that refinery with our forex but the damage to our currency had already been done. Total loss of trust in our currency had led to massive hoarding of dollars and scarcity which affected the naira that even floating of naira by tinubu couldn’t salvage the problem. Same dangote moved again by trying to push independent petroleum marketers out of business, import fuel and sell to Nigerians at higher price by using his uncompleted refinery as a conduit pipe to get forex. He showed his hand again and Emilokan saw it when he demanded for billions of dollars to import crude, now he is going to Angola to be a partial owner of a working refinery

Horus:
Source https://www.forbesafrica.com/current-affairs/2024/11/27/nigerian-tycoon-in-angola-to-formalize-investment-in-the-lobito-refinery/

Let's see if this werey will dictate how their industry regulator runs their thing.