Africa must stop being a dumping ground for substandard fuel – Dangote
Aliko Dangote, President of Dangote Industries Limited, warned that Africa has become a “dumping ground” for low-quality petroleum products due to excessive reliance on fuel imports.
He discussed the motivations behind the establishment of the Dangote Refinery, a pivotal project aimed at making Nigeria self-sufficient in refined petroleum.
“Apart from Algeria and Libya, which are self-sufficient, virtually every other African country is an importer,” Dangote remarked, highlighting the paradox of a continent rich in crude oil yet dependent on imports.
He expressed hope that his refinery would serve as an example for similar ventures across Africa.
Reflecting on the challenges faced during construction, he admitted, “People think building a refinery is like building a house. But, as I always say, if I had known the scale of challenges we would face, I wouldn’t have started at all.”
Despite this, he emphasized the importance of perseverance, saying, “We had to keep pushing to ensure delivery,” with the aspiration that it will encourage other nations to develop their refining capabilities.
Dangote also urged wealthy Nigerians to invest locally, stating, “No nation develops without significant investments.”
He criticized the tendency to export wealth abroad and called on the elite to invest in the local economy for the sake of future generations.
He acknowledged the existence of corruption but pointed out a significant difference: “In those other countries, even when funds are stolen, they are invested locally and contribute to economic growth—unlike here, where funds are hidden in foreign banks.”
Concluding his remarks, Dangote stressed the need for bold and transformative projects to address Africa’s socio-economic challenges, particularly job creation for its growing population.
Source: LEADERSHIP
