Africa’s richest man, Aliko Dangote, has raised the alarm over the continent’s growing reliance on cheap, toxic petroleum imports — accusing foreign suppliers of dumping substandard fuel into African markets while African governments stand idle.
Speaking at the West African Refined Fuel Conference in Abuja, hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and S&P Global Commodity Insights, Dangote warned that Africa is effectively importing poverty and exporting economic opportunity.
“We import over 120 million tonnes of refined petroleum every year at a cost of $90 billion, while refining only 40% of what we consume. Meanwhile, toxic fuel that would be illegal in Europe or the U.S. is being dumped on us,” he said.
Dangote noted that despite producing around 7 million barrels of crude oil daily, African countries refine less than half of their needs, leaving the rest to be imported — often under questionable quality standards.
He decried the irony of Nigeria exporting crude oil only to buy it back at inflated costs after refinement abroad.
“We buy 9 to 10 million barrels of crude every month from the U.S. and other countries. It defies economic logic,” he said, thanking the NNPC for making some domestic supply available to the Dangote Refinery.
Building the Impossible
Recounting the Herculean effort behind the $19 billion Dangote Refinery, he described it as “the most logistically complex industrial facility ever built in Africa.”
Spanning 2,735 hectares, much of it swamp, the project required:
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65 million cubic metres of sand,
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Over 250,000 foundation piles,
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67,000 workers,
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And its own dedicated seaport and granite quarry.
Despite these achievements, the refinery faces serious commercial challenges:
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A 900% increase in exchange rate (N156/$ to N1,600/$)
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Exorbitant port and regulatory charges that account for 40% of freight costs
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And difficulty securing Nigerian crude at fair terms, often outbid by foreign traders.
“It costs less to ship crude to India than to move it within West Africa. That’s not competition — that’s sabotage,” he remarked.
Toxic Dumping and Disjointed Regulation
Dangote also blasted the influx of discounted, substandard fuel, especially from Russia, saying some products are so poorly blended they would be banned in developed nations.
Worse still, he said, Africa’s lack of harmonised fuel standards makes regional trade nearly impossible.
“Fuel refined for Nigeria can’t be sold in Ghana, Togo, or Cameroon — despite identical vehicles. This creates artificial barriers that benefit no one but international traders exploiting the system,” he said.
He urged African regulators to rethink outdated standards, like Nigeria’s diesel cloud point limit of 4°C — a costly constraint irrelevant in a tropical climate.
A Call to Action
Dangote challenged African governments to protect local industries, just as the U.S., Canada, and the EU shield their domestic refiners.
“We must stop this economic insanity. Let’s stop importing poison and start building prosperity — with our own hands, our own oil, and our own people,” he concluded.
