President of Dangote Industries Limited, Alhaji Aliko Dangote, has raised alarm over Africa’s growing dependence on imported petroleum products, warning that the continent has become a dumping ground for substandard fuel.
Speaking during a recent media interview, Dangote expressed deep concern about the quality of petroleum products being shipped into African markets. He blamed the region’s limited refining capacity for the crisis and said his decision to establish the multi-billion-dollar Dangote Refinery was aimed at changing this narrative.
“Except for Algeria and Libya, most African countries depend heavily on fuel imports,” Dangote lamented. “This is unacceptable, especially for a continent rich in crude oil reserves.”
He revealed that the construction of the refinery was fraught with challenges, with many doubting the project’s viability. “People assumed building a refinery was as easy as constructing a house,” he said. “If we had known the magnitude of obstacles we would face, we might never have started. But we pushed through with determination.”
Dangote stressed that beyond Nigeria, the facility is expected to inspire other African nations to build their own refineries and reduce reliance on raw exports. He described Africa’s export of crude and importation of finished petroleum products as a tragic irony.
The billionaire entrepreneur also used the opportunity to call on Nigeria’s wealthy elite to invest in the local economy rather than stashing funds abroad. “No nation develops without major local investments,” he said. “Even where there is corruption elsewhere, stolen wealth often gets reinvested domestically. Here, funds are simply hidden abroad.”
He urged Nigeria’s rich to consider the long-term future of the country and invest in projects that would provide jobs and strengthen the economy. “Africa needs bold and transformative industrial projects. The Dangote Refinery is just a starting point,” he concluded.
The Dangote Refinery, which began operations earlier this year, is projected to refine 650,000 barrels of crude
