Dangote Commits to Major Investments in Bayelsa,Praises Diri’s Pro-Investment Leadership

Yenagoa, Bayelsa State – Africa’s richest man and Chairman of the Dangote Group, Alhaji Aliko Dangote, today lauded Bayelsa State Governor, Senator Douye Diri, for fostering an investment-friendly environment, as his conglomerate signed a Memorandum of Understanding (MoU) with the state government for significant investments in key sectors.

The landmark agreement, signed at Government House, Yenagoa, outlines collaborations in oilfield and gas development, agro-allied processing, seaport development, and general infrastructure. This move follows a series of engagements, including Governor Diri’s visit to the Dangote Refinery in Lekki, Lagos in July 2024, and an earlier meeting during the AFREXIM annual meeting in Nassau, The Bahamas, in June 2024.

Alhaji Dangote expressed satisfaction with the smooth progress of his ongoing gas pipeline project in the state, commending the Diri administration for its cooperation. He described Bayelsa as a state “naturally endowed” and pledged his company’s commitment to job creation and youth training within the state.

“As you know, when we met in Lagos, I promised to visit and today I am here to make sure that we partner, create jobs and train youths,” Dangote stated. He emphasized his desire to showcase Bayelsa as a safe and viable business destination, declaring, “No foreign investor will come to our country if we do not lead the way… That is why I want to partner with Bayelsa to remove the fear of insecurity.”

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Highlighting the state’s economic potential, the Dangote Group chairman specifically pointed to the Agge Deep Seaport and the vast gas reserves as catalysts for Bayelsa’s prosperity. “If you can have this with gas, Bayelsa will be the most prosperous state,” he asserted. He also offered the Group’s expertise in rice cultivation, promising to provide high-breed seeds and conduct soil analysis to optimize yields. On infrastructure, Dangote noted his company’s substantial infrastructure tax credit, suggesting a collaborative approach with the Presidency to leverage this for Bayelsa’s development.

Governor Douye Diri, in his remarks, commended Dangote for fulfilling his promise to visit, acknowledging him as a forthright businessman. He reiterated Bayelsa’s abundant natural resources beyond oil and gas, emphasizing the state’s position as the nation’s gas hub. Diri invited the Dangote Group to harness these extensive gas deposits, particularly as the global energy landscape shifts towards renewables.

The governor outlined specific areas of interest for partnership, including the expansion of Dangote’s operations at Iseni, the development of a gas processing plant with the capacity to supply neighboring states, and the crucial Agge Deep Seaport, which he believes will serve as a regional hub. He also sought collaboration in agro-allied processing, with a focus on the food sector, and the development of the state-owned oil processing field.

To enhance security and attract further investment, Governor Diri highlighted his administration’s deployment of Closed Circuit Television (CCTV) cameras across the state. He also expressed keen interest in partnering with Dangote on the federal government’s infrastructure tax credit scheme to accelerate infrastructural development and foster economic growth.

Today’s MoU signing marks a significant step towards unlocking Bayelsa’s vast economic potential and underscores Governor Diri’s strategic efforts to attract crucial investments for the state’s sustainable development.