Aliko Dangote had revealed plans to expand his group’s investments in Cameroon, starting with energy. He said so after a meeting with Cameroonian President, Paul Biya in the capital, Yaounde on Wednesday. “We have plans to expand our investment to other sectors beginning with oil and gas,” he said without providing further details.
His plans come at a time when the world seeks to grow cleaner energy, with mostly oil majors diversifying into renewable energy.
Dangote is currently constructing Africa’s largest crude oil refinery with a 65, 000 barrels per day capacity in Lagos.
Upon completion, the refinery will serve both Nigeria and other neighbouring African countries with refined crude oil products such as petrol, gas, diesel and others.
Nigeria’s state oil firm, the NNPC also recently disclosed plans to buy a stake in the refinery.