Envoy Wants Dangote to Invest in Tanzanian Oil Industry

• Envoy Wants Dangote to Invest in Tanzanian Oil Industry

Tanzania’s High Commissioner to Nigeria, Muhidini Ally-Mboweto, has sought the assistance of the President, Dangote Group, Aliko Dangote, in the development of his country’s oil and gas industry

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 to seek collaboration between Dangote Group and the Tanzanian government in making the country self-sufficient in petroleum products, according to a statement from Dangote.

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.”

According to him, Tanzania has gas, gold, diamonds, and gemstones including tanzanite and base metals.

He said the country had bilateral trade agreements with eight countries including the Indian Ocean, describing them as potential markets for investors.

Ally-Mboweto said, “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.”

He commended Dangote for helping to reduce the price of cement in Tanzania through his massive investment in the country’s cement industry.

“Dangote Cement is already in Tanzania and the plant is doing very well. So, the Dangote Cement plant has made a huge contribution to our cement demand. Now, the majority of the people in Tanzania can access cement for their building construction,” he added.

The Production Manager, Tanzania Petroleum Development Corporation, Mr Modestus Lumato, called on Dangote to partner the Tanzanian oil company to set up a refinery in the country.

According to him, about six countries are depending on Tanzania for petroleum products, thus the need for collaboration between the two countries.

“The Tanzanian petroleum products market is huge. We are also looking forward to buying petroleum products from Nigeria when the refinery is completed,” he added.

Presenting the status of the Dangote refinery project in Lagos, the Head, Quality Assurance/Quality Control, Dangote Oil Refinery Company Limited, Rama Putta, disclosed that erection of the refinery equipment had started.

Putta described the project as the largest single train petroleum refinery in the world with a capacity to process 650,000 barrels per day of crude oil.