Aliko Dangote says Africa imports over 120 million tonnes of fuel yearly, costing $90bn and undermining local industry. He decried toxic fuel dumping and urged support for domestic refineries.
Africa’s dependence on imported, often substandard fuel is costing the continent over $90 billion annually, says Dangote Industries President, Aliko Dangote. Speaking at the West African Refined Fuel Conference in Abuja, Dangote lamented Africa’s limited refining capacity, noting the continent imports over 120 million tonnes of refined petroleum products each year.
He stated, “So, while we produce plenty of crude, we still import… effectively exporting jobs and importing poverty into our continent.”
Dangote decried the influx of toxic, low-quality fuel, often blended below standards allowed in Europe or North America. “To make matters worse, we are now facing increasing dumping of cheap, often toxic petroleum products.”
Despite building the world’s largest single-train refinery, he highlighted challenges including crude sourcing, exchange rates, and exorbitant port charges. He urged harmonisation of fuel standards across Africa and called on governments to adopt protective policies like those in the US and EU, saying Africa must “build an entire industrial ecosystem” to secure its energy future.