Nigerian billionaire Aliko Dangote has warned that heavily discounted Russian petroleum products are flooding African markets, threatening the continent’s emerging refining sector.

Abuja

Aliko Dangote, Africa's wealthiest individual, has warned that an influx of cheap Russian oil is threatening the continent's refining industry. Speaking at a conference in Abuja, Dangote stated that Africa is becoming a dumping ground for discounted and often substandard fuels, some of which would not meet safety standards in Europe or North America. 

Dangote attributed the surge in Russian fuel imports to Western sanctions, which have led Russia to seek new markets by offering steep discounts. He urged African governments to implement tariffs, emission caps, and stricter fuel standards to protect local industries. Despite producing significant crude oil, Africa still imports most of its refined fuel, and while it remains a relatively small market for Russian products, recent data shows a notable decline in Russian diesel and gas oil exports to the continent.

Dangote warns Russian fuel threatens Africa’s refining industry

Africa's wealthiest man, Aliko Dangote, is sounding the alarm, warning that cheap Russian oil is flooding the continent's markets and threatening its refining industry. Speaking at a conference in Abuja, Dangote said Africa is becoming a dumping ground for discounted, often substandard and even toxic fuels. Many of the products, he says, wouldn't meet safety standards in Europe or North America. Dangote blames the influx on Western sanctions that have pushed Russia to offer steep discounts and Africa has become a new target market. He's urging African governments to act now with tariffs, emission caps and stronger fuel standards before the local industry is drowned out. Despite producing 7 million barrels of crude daily, Africa still imports most of its refined fuel. But the continent still remains a small market for Russian oil products compared to major buyers like Turkey and Brazil. In June, Russian diesel and gas oil exports to African countries dropped 30 per cent from the previous month, totalling about 0.7 million tonnes.

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As Suwayda

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Breakdown