By Tako Koning, in Calgary
Aliko Dangote, CEO and founder of the Dangote Group and the Dangote Refinery, met with Canadian Prime Minister Mark Carney on August 5, 2026, in the Parliament Building in Canada’s capital city of Ottawa, Ontario.
Canada and Nigeria share similarities since they are major oil and natural gas producers. Canada produces 5.3Million barrels per day of crude oil and is the 4th largest oil producer in the world. Canada is also the world’s 5th largest producer of natural gas. Nigeria produces 1.5Million barrels of oil per day and is one of the largest oil producers in Africa. Accordingly, the economies of both countries are highly dependent on the production of oil and gas. Both countries benefit from high oil and prices. Their economies suffer when oil and gas prices decline such as during the Covid-19 pandemic which led to oil and gas demand destruction and sharply reduced oil and gas prices.
The Dangote Petroleum Refinery is one of the world’s largest refineries and processes approximately 650,000 barrels per day of crude oil. The current plan is to further increase its overall processing capacity. Mr. Dangote also founded and chairs Dangote Cement which is Africa’s largest cement producer. Forbes magazine has estimated Mr. Dangote’s current net worth at $31.1 billion.
“Mr. Dangote is an industrialist and oil refinery owner who is widely described as the wealthiest man in Africa” Canadian newspaper Globe & Mail wrote of the Carney-Dangote meet up. “Dangote discussed the Africa Strategy in the meeting with the Prime Minister”.
Mr. Dangote said in a statement after the meeting, “Africa offers significant opportunities for investment, innovation, and trade, while Canada remains an attractive destination for long-term capital and strategic collaboration”.
Sofia Ouslis, the Prime Minister’s press secretary, said Mr. Carney met with the Nigerian business leader to discuss the philanthropic efforts of the Dangote Foundation and opportunities for Canadian energy. They also discussed their shared commitment to accessible health care, education and relief aid.
Tako Koning is a Senior Geologist based in Calgary. Koning has a B.Sc. in Geology from the University of Alberta and a B.A. in Economics from the University of Alberta. He was employed by TEXACO from 1973 – 2002 in Canada and also in Indonesia, Nigeria and Angola. In Nigeria, from 1992 – 1995, he was Assistant Managing Director (Exploration) for Texaco Overseas Production Limited (TOPCON). From 1996 – 2015 he worked in Angola for Texaco, Tullow Oil and Gaffney, Cline & Associates. He has been an active member of Africa Oil + Gas Report’s International Advisory Board for twenty-four years since the publication was founded by Toyin Akinosho in Lagos in 2002.
