Faith Nyasuguta
Africa’s richest man, Aliko Dangote, has sounded the alarm over the continent’s heavy dependence on imported petroleum products, warning it leaves Africa vulnerable to being used as a dumping ground for low-quality fuel.
Speaking recently, the President of Dangote Industries Limited said the solution lies in building local capacity. “That’s why we built the Dangote Refinery,” Dangote explained. “We wanted to make Nigeria self-sufficient in refined petroleum and inspire other African countries to do the same.”
He admitted the journey wasn’t easy. Many doubted his company’s ability to deliver such an enormous project, but his vision never wavered. “People think building a refinery is like building a house. If I’d known the true scale of challenges, maybe I wouldn’t have started,” he confessed. “But we kept pushing because we believe nothing is impossible.”
The $20 billion Dangote Refinery, operational since 2024, is now Africa’s largest, with a capacity of 650,000 barrels per day. Its impact on Nigeria’s fuel supply chain has been immense – economists say it could finally disrupt the decades-old practice of shipping cheap gasoline from Europe to Africa, a trade worth about $17 billion every year.
The refinery’s success is seen as a wake-up call for the rest of Africa, where crude oil is still mostly exported as raw material while refined products are imported back at higher costs – a cycle Dangote calls wasteful and dangerous for energy security. He urged African nations to see this moment as proof that large-scale local refining is achievable and profitable.
Dangote’s industrial ambition doesn’t end there. He recently unveiled plans to build a major seaport next to his refinery and fertiliser plants, aiming to boost exports and strengthen supply chains. This project is expected to help move oil, fertilisers, and other products more efficiently, fuelling the growth of his vast business empire even further.
Despite global concerns over trade restrictions under U.S. President Donald Trump’s new tariffs, Dangote projects his group will generate at least $30 billion in revenue by next year.
He called on other wealthy Nigerians and Africans to follow his lead and invest locally instead of keeping wealth offshore. “Investing at home is the best way to secure our future and grow our economy,” Dangote said.
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