Aliko Dangote, President of Dangote Industries Limited, has expressed grave concern over Africa’s increasing reliance on imported petroleum products, warning that the continent is becoming a dumping ground for substandard fuels. In a recent media statement, he emphasized that this dependence on fuel imports exposes African nations to poor quality energy supplies and undermines economic sovereignty.
Dangote revealed that his motivation for building the Dangote Refinery was rooted in a desire to help Nigeria and the wider continent achieve energy self-sufficiency. He noted that aside from Algeria and Libya, most African countries rely heavily on fuel imports. Despite facing numerous hurdles and opposition, Dangote said he pursued the refinery project to promote industrialisation and energy independence across Africa.
The industrialist recounted the skepticism he faced from critics who doubted the viability of the massive refinery project. Many discouraged the effort, referencing past failures by African governments to execute similar initiatives. Reflecting on the journey, Dangote admitted he underestimated the scale of challenges involved but credited his team’s persistence and belief that nothing is impossible.
Dangote expressed hope that the success of his refinery would inspire other African nations to develop their own refining capacities and shift from raw material exports to value-added production. He urged the continent to prioritise local solutions and infrastructure to escape dependency on foreign products and markets.
Beyond the refinery, Dangote made a passionate appeal to wealthy Nigerians and African elites to invest locally. He argued that meaningful national development hinges on domestic capital and commitment. Criticising the habit of transferring African wealth overseas, he emphasized that true growth requires internal reinvestment, pointing out that even corrupt countries often reinvest stolen funds at home to stimulate their economies, a practice largely absent in Africa.
Source: Business Day