Aliko Dangote, president of Dangote Industries Limited, has attributed Africa’s dependence on imported petroleum products to systemic corruption and a failure to invest in local refining infrastructure, warning that the continent has effectively become a dumping ground for substandard fuel.

Speaking in a recent media interview, Dangote said Africa’s failure to refine its own crude oil despite vast reserves was a direct consequence of weak governance, corruption, and misplaced priorities that favour foreign interests over long-term national development.

“Apart from Algeria and Libya, which are self-sufficient, virtually every other African country is an importer,” Dangote said. “This is happening despite the enormous crude oil reserves available across the continent.”

He argued that Africa’s reliance on fuel imports exposes its citizens to inferior products and unnecessary economic vulnerabilities. “The lack of local refining capacity means we are left at the mercy of exporters, many of whom dump substandard products into African markets,” he said.

Dangote noted that the decision to build the 650,000-barrel-per-day Dangote Refinery in Lagos was driven by a desire to end this dependency and encourage other African countries to follow suit. However, he acknowledged the project faced significant resistance, including from individuals and institutions that profit from fuel imports.

“People advised us not to do it,” he said. “They said even governments had failed to build such a refinery, and that it was a waste of time. But we pushed through, because we believed the status quo could not continue.”

He described the level of resistance and difficulty encountered as immense. “If I had known what we were getting into, I wouldn’t have started,” he said. “But we were already in too deep to turn back. It was either we cut our losses or fight to succeed.”

In a pointed remark, Dangote linked the failure to develop Nigeria’s refining sector to entrenched corruption, accusing political and business elites of prioritising personal gain over national interest.

“There is hardly any country without corruption,” Dangote said. “But the difference is that in those other corrupt countries, they invest the stolen funds in their own economy. Here, we stash them in foreign banks that have no benefit to us.”

He urged Nigeria’s wealthy elite to invest in the country rather than exporting their capital, saying true national development requires domestic commitment.

“No nation develops without significant investments. I appeal to all wealthy Nigerians to look inward and invest here, in Nigeria, for the future of our unborn kids,” he said.

Dangote concluded by stating that Africa must commit to bold, transformative projects, particularly in refining and manufacturing, to address its socio-economic challenges and provide sustainable employment for its growing youth population.