With over two billion tonnes of phosphate reserves, Togo is one of the leading phosphate producers in Africa. By partnering the Dangote Group, the country intends to benefit from the expertise and investment capacity of Africa’s largest industrial group, according to a joint release issued by the Dangote Group and the Communications Department of the Presidency of the Republic of Togo.

With the completion and commissioning of the Dangote Petroleum Refinery and Fertilizer complex in Ibeju-Lekki, Lagos, Dangote Group will be the largest ammonia producer on the African continent, the release noted. Ammonia is an essential ingredient in the transformation of phosphate into fertilizer derived from phosphates. Under the agreement, Togo will provide access to phosphate resources and the Dangote Group will provide access to ammonia and to the Nigerian market.

The project, in line with second pillar of the Togo National Development Plan, should enable the production of more than 1 million tonnes of fertilizers derived from phosphates once completed. The cost of the investment is estimated at about $2 billion and is expected to create several thousand direct jobs. Mining development work will start before the end of 2019, it added.

On this occasion, Dangote Group also announced the establishment of a cement manufacturing plant with an annual capacity of 1.5 million tonnes in Lomé. This plant will use clinker from Togo and Nigeria and will meet both local and neighbouring countries’ demand, the release noted.

It further added that construction of the Lome plant is billed to start in first quarter of 2020 and its commissioning scheduled to take place before the end of 2020. The investment is estimated at $60 million and is expected to create 500 direct jobs.

Togolese President, Faure Gnassingbé said, “The structural transformation of our economy is the main objective we have set ourselves in the context of the 2018-2022 NDP. By processing our phosphate we will not only create jobs but we will also be able to provide our farmers with good quality fertilizers at an affordable cost. Having an industrial investor like Alhaji Dangoté shows that our efforts to improve the business climate are paying off. We intend to continue in this dynamic for the well-being of Togolese men and women.”

President/CE Dangote Group, Aliko Dangote said, ‘’This partnership is in line with our transformation agenda in creating prosperity and enhancing economic development not only in Togo but also in Affrica.  In addition, the Dangote Group is determined in supporting the Government of Togo in its industrialisation strategy aimed at creating jobs for its citizens and making Togo an attractive investment destination.’’

The two investment agreements reinforce Togo’s industrialisation strategy adopted under the 2018-2022 National Development Plan.

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According to BMO, the trip would not remove the fact that Atiku was indicted by a congressional report that named him in a money laundering case.

The BMO statement was signed by its Chairman, Niyi Akinsiju and Secretary, Cassidy Madueke on Friday.

It said, “The former Vice President’s eventual entry into the country after a 12-year travel ban cannot negate the US Congressional report that named him in one of four notorious cases of money laundering in the world.

It added: “The 2010 report entitled ‘Keeping foreign corruption out of the US’ clearly linked the convicted American Congressman Williams Jefferson to Atiku Abubakar who was described as ‘a high-ranking official in Nigeria’s executive branch who had a spouse in Potomac, Maryland’ in a bribery scheme meant to influence business contracts with African countries

“It also noted that Atiku’s fourth wife, Jennifer Douglas Abubakar helped her husband bring over $40m in suspect funds into the US including at least $1.7m in bribe payments from Siemens AG, a German corporation, and over $38m from little known offshore corporations.

“Jefferson and Siemens who were technically the former Vice President’s co-conspirators in the deal were convicted and Jefferson went to jail while his sealed indictment had been intact since 2010.

“It is a fact that the US President Donald Trump with his ‘America First’ mantra has not been too comfortable with Africa’s booming relations with China with Nigeria as arrowhead and may be willing to do business with anyone that will boost his country’s interest even to the detriment of their own country.

“The world has seen how Trump had been reluctant to take a hard-line stance against Saudi Arabia over ‘Kashoggi murder’ because of his close business link with Crown Prince Mohammad bin Salman,” it said

The group said it was not surprised by the visit as it had revealed in November last year that the PDP and its Presidential candidate had secured the services of Brian Ballard, a US lobbyist with close links to President Donald Trump, to facilitate the entry visa for millions of dollars.

“We said back then that even if Trump’s friend convinced the US authorities to clear the path for Atiku to finally enter the US, it won’t clear the former Vice President of the corruption scandals that have over the years stuck to him.”

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