{"id":45015,"date":"2021-06-25T09:49:24","date_gmt":"2021-06-25T09:49:24","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=45015"},"modified":"2021-06-25T09:49:34","modified_gmt":"2021-06-25T09:49:34","slug":"aliko-dangote-to-invest-in-cameroons-oil-market-amid-revenue-decline","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=45015","title":{"rendered":"Aliko Dangote to invest in Cameroon\u2019s oil market amid revenue decline"},"content":{"rendered":"\n
\"Dangote<\/figure>\n\n\n\n

Cameroon is the next stop for Nigerian billionaire, Aliko Dangote, as he furthers plan to situate a oil and gas business with the Central African country.<\/p>\n\n\n\n

Oil is the major revenue source for Cameroon just like Nigeria since it was discovered in 1977. It accounts for nearly 40 percent of export commodities, even though its projected to drop by 11.1 percent between 2021 and 2022<\/p>\n\n\n\n

But regardless of the forecast, Dangote<\/a> wants to make a play for Cameroon\u2019s oil operation, in a bid to improve his company\u2019s revenue stream from the country, which is currently dominated by cement sales.<\/p>\n\n\n\n

He met with President Paul Biya, according to Bloomberg on Thursday. Following the meeting, the business mogul said, \u201cYears ago, we established [a cement subsidiary in Cameroon, and we have plans to expand our investments to other sectors beginning with oil and gas.\u201d<\/p>\n\n\n\n

He added that, \u201cThis audience also allowed me to thank the President, who showed us that he was on investors\u2019 side. This encourages us to invest more in Cameroon.\u201d<\/p>\n\n\n\n

Dangote didn\u2019t give much details about how he plans to enter Cameroon\u2019s oil and gas market or the capital budgeted for the expansion, but in Nigeria, about $10 billion was pumped into his refinery project.<\/p>\n\n\n\n

Dangote Refinery, which is the largest private refinery on the continent, is scheduled to begin operation next year, two years behind initial completion timeframe. It will produce 200,000 barrels per day.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cameroon is the next stop for Nigerian billionaire, Aliko Dangote, as he furthers plan to situate a oil and gas business with the Central African country. Oil is the major revenue source for Cameroon just like Nigeria since it was discovered in 1977. It accounts for nearly 40 percent of export commodities, even though its […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[4],"tags":[],"yoast_head":"\nAliko Dangote to invest in Cameroon\u2019s oil market amid revenue decline » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=45015\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=45015#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=4\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Aliko Dangote to invest in Cameroon\u2019s oil market amid revenue decline\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Aliko Dangote to invest in Cameroon\u2019s oil market amid revenue decline » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=45015","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=45015#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/watchdogplusmedia.com\/?cat=4"},{"@type":"ListItem","position":3,"name":"Aliko Dangote to invest in Cameroon\u2019s oil market amid revenue decline"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":18,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=4\" rel=\"category\">Business<\/a>","rttpg_excerpt":"Cameroon is the next stop for Nigerian billionaire, Aliko Dangote, as he furthers plan to situate a oil and gas business with the Central African country. Oil is the major revenue source for Cameroon just like Nigeria since it was discovered in 1977. It accounts for nearly 40 percent of export commodities, even though its…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/45015"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45015"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/45015\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}