The Dangote Group and the Bayelsa state government have signed a memorandum of understanding (MoU) to explore investmen opportunities in gas infrastructure, agro-processing, and seaport development.
The agreement was formalised on Friday in Yenagoa, according to a statement by Daniel Alabarah, chief press secretary of the state.
Alabarah said the development followed months of high-level engagements between Aliko Dangote, chairman of Dangote Industries Limited (DIL), and Douye Diri, Bayelsa governor.
Under the MoU, Dangote Group is expected to channel investments into gas development projects, support the establishment of a deep seaport in Agge, and participate in agro-allied ventures with a focus on rice cultivation and food processing.
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Speaking at the signing ceremony, Aliko Dangote, chairman of a Dangote Industries Limited, said his company’s growing footprint in Bayelsa is driven by a desire to show that the state is viable for large-scale private sector invest and ent.
“We have no issues with our gas project in Bayelsa. We’re seeing the right signals in terms of cooperation and we want to scale that. There’s a lot of potential here,” he said.
He identified the Agge deep seaport and Bayelsa’s gas deposits as key areas for future prosperity, noting that in those sectors could position the state as an economic hub in the Niger Delta.
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Dangote said the company would also bring in high-yield rice seeds and deploy its soil-testing facilities to assess the viability of local cultivation.
He explained that his decision to invest in the state was borne out of a desire to show to the world that Bayelsa is safe for business.
“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,” he said.
“You have no reason to complain about poverty because you have what it takes to make this state prosperous. The future of our group is now oil and gas.
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“No foreign investor will come to our country if we do not lead the way. Our duty is not only to be in the field of oil and gas but also to encourage others. That is why I want to partner with Bayelsa to remove the fear of insecurity.
“We have the best of cooperation with all your officials on the Iseni project. It also shows your leadership style is paying off. So I thank you and all your officials for ensuring that our project is going on smoothly.
“On rice cultivation, we will work together and import very high-breed seeds. We will test the soil at our laboratory to be sure what kind of fertiliser to use.
“On infrastructure tax credit, you are right. But you will need to discuss with the President. Our company has over one trillion naira worth of infrastructure tax credit. Roads are built in record time. I think it will be good.”
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‘BAYELSA READY TO REVIVE OIL-PROCESSING LICENCE’
Earlier, Diri said the state’s natural gas deposits and untapped resources offer major opportunities for investors, adding that his administration is looking to revive a dormant oil processing licence and expand agro-industry participation.
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He said Bayelsa is rich in oil and gas and also natural resources, some of which have been tapped while others are waiting to be harnessed.
“This visit is divine even though we had earlier visited you in your factory. You said you were also going to reciprocate and today you have. That shows that you are a businessman who keeps his word,” Diri said.
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“Bayelsa is known for its richness in oil and gas but beyond these, the state has abundance of natural resources. Some being tapped and some yet untapped.
“As you are aware, the world is moving away from oil to other renewable energy and gas. Bayelsa is the gas hub and there are so many areas you can collaborate with us.
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“I want to propose the following areas. We are looking at expansion of your operations at Iseni. The state government is doing so much to maintain the peace. We have recently procured and installed CCTV cameras.
“We are also looking at the gas processing plant with the capability to supply neighbouring states. I again invite you to be part of this scheme.
“We want partnership in development of the Agge Deep Seaport. It will serve as a hub to a lot of states around us.
“We are looking at agro-alied processing, focusing on the food sector.”
Diri said nothing has been done about the oil processing licence owned by the state, adding that the state is open “to partner with you (Dangote) to develop it”.
