Namibia President Hails Dangote’s $2.5bn Investment

President of Namibia, Dr Netumbo Nandi-Ndaitwah, has hailed the launch of Dangote Industries Limited’s $2.5 billion petroleum storage and regional pipeline investment as a historic milestone in Africa’s industrialisation.

Speaking at the official launch in Walvis Bay on Wednesday, Nandi-Ndaitwah commended president and chief executive of Dangote Industries Limited, Aliko Dangote, for demonstrating confidence in Africa’s economic potential through large-scale investments designed to strengthen energy security, accelerate industrial development and deepen regional economic integration.

“Today, this is the most memorable day of my presidency,” she declared, describing Dangote as a son of African soil whose investment demonstrated the growing capacity of African entrepreneurs to drive the continent’s transformation.

The President disclosed that she had placed the project under the coordination of the Office of the President to ensure effective collaboration among government institutions and timely implementation, drawing lessons from previous investment opportunities lost to prolonged administrative delays.

She said her administration was committed to creating a more responsive investment environment, particularly for strategic projects capable of generating employment, strengthening infrastructure and stimulating economic growth.

The investment comprises a proposed 600-million-litre petroleum storage facility and an approximately 1,700-kilometre regional pipeline network intended to position Namibia as a strategic energy distribution gateway for Southern Africa.

Nandi-Ndaitwah said the project aligned with Namibia’s Sixth National Development Plan and its priorities in infrastructure, logistics, energy security, industrialisation and employment creation.

She described the investment as a practical demonstration of African economic integration, consistent with the objectives of the African Continental Free Trade Area and the African Union’s Agenda 2063.

“The African people cannot continue to live in poverty when our continent is so richly endowed with natural resources,” she said.

The President urged Namibian businesses to develop the technical capacity required to participate in emerging industrial supply chains, disclosing that her administration intended to broaden its local content framework beyond oil and gas to other sectors.

She also emphasised skills transfer, saying the project should equip Namibian workers with expertise that would remain valuable beyond construction and enhance their competitiveness internationally.

Addressing the gathering, Dangote disclosed that the $2.5 billion investment would cover petroleum storage, pipeline infrastructure and associated distribution facilities.

He said the proposed tank farm would occupy approximately 70 hectares at Farm 58, about 10 kilometres east of Walvis Bay, with storage capacity for 360 million litres of diesel and 240 million litres of petrol.

He expressed confidence that the investment would reduce transportation costs, strengthen petroleum supply reliability and improve fuel affordability across the region.

“When we invest in the pipeline, it is not simply because we want to make money. We want to invest heavily so that landlocked countries can access petroleum products at cheaper prices,” he said.

Dangote also announced that the Group had increased its investment ambition towards 2030 from $50 billion to $60 billion, signalling plans to expand its industrial footprint across Africa. He described the Namibia project as the beginning of a potentially much larger investment partnership with the country.

He explained that the investment formed part of a wider continental strategy to establish interconnected centres of production, storage and distribution, citing the Group’s 700,000-barrel-per-day refinery and petrochemicals complex in Lamu, Kenya, alongside major fertiliser and petroleum infrastructure investments in Ethiopia and Djibouti.

The Governor of Namibia’s Erongo Region, Dr Nathalia ǀGoagoses, also welcomed the investment, describing it as a strategic initiative that would strengthen the region’s position as a gateway for trade, investment and economic integration.

“We recognise the significance of this investment and look forward to a mutually beneficial partnership. Sustainable development can only be achieved through strong partnerships, collaboration and a shared vision,” she said.