Speaking at the official launch of the project in Walvis Bay, the president praised Aliko Dangote, President and Chief Executive of Dangote Industries Limited, for investing in critical energy infrastructure and demonstrating confidence in Africa’s economic potential.
Nandi-Ndaitwah described the occasion as a defining moment in her presidency, noting that the investment reflected the growing ability of African entrepreneurs to drive economic transformation through large-scale industrial projects.
“Today is the most memorable day of my presidency,” she said.
The project involves the development of a 600-million-litre petroleum storage facility and an approximately 1,700-kilometre regional pipeline network aimed at establishing Namibia as a major fuel distribution centre for Southern Africa.
When completed, the infrastructure is expected to improve petroleum supply reliability, reduce transportation costs and facilitate access to fuel across Namibia and neighbouring countries.
The Namibian president said the investment aligned with her country's development priorities and the objectives of the African Continental Free Trade Area (AfCFTA), while creating opportunities for employment, skills development and industrial expansion.
She noted that the project would strengthen Namibia's strategic position in regional commerce and support broader efforts to promote economic cooperation among African countries.
Speaking at the ceremony, Dangote said the investment was part of his group's long-term strategy to establish interconnected production, storage and distribution facilities across the continent.
He disclosed that the proposed facility near Walvis Bay would have a storage capacity of 360 million litres of diesel and 240 million litres of petrol.
The accompanying pipeline network is expected to connect Namibia to major markets in Botswana, Zambia, Zimbabwe, Malawi and parts of the Democratic Republic of Congo, providing landlocked countries with improved access to petroleum products.
Explaining the rationale behind the investment, Dangote said the project was designed to address transportation challenges and make fuel more affordable across the region.
“We want to invest heavily so that landlocked countries can access petroleum products at cheaper prices,” he said.
The Nigerian industrialist also announced an increase in Dangote Group's long-term investment ambition across Africa, raising its target towards 2030 from $50bn to $60bn.
He said the revised target reflected the group's confidence in the continent's economic prospects and its determination to expand investments in strategic sectors.
“What we are launching today represents an investment of $2.5 billion, but Namibia deserves much more. We want to invest more and do more with your government,” he said.
Reaffirming his commitment to Africa's industrial development, Dangote stressed the need for African countries and businesses to take greater responsibility for building the continent's economic future.
“Africa must industrialise Africa,” he declared.
Also speaking at the event, the Governor of Namibia's Erongo Region, Dr Nathalia ǀGoagoses, welcomed the investment, describing it as a strategic development that would strengthen the region's position as a gateway for trade, investment and economic integration.
The project is expected to contribute to regional infrastructure development by improving petroleum distribution networks and supporting commercial activities across Southern Africa.
Dangote reaffirmed his group's commitment to Namibia and the wider region, pledging further investments in infrastructure and other strategic sectors to support economic growth, job creation and shared prosperity across the continent.