Dangote Blows Whistle on Fuel Cartels Sabotaging Africa’s Refinery Revolution

By iNewsAfrica Business Desk

Abuja, Nigeria — Africa’s richest man, Aliko Dangote, has sounded the alarm on a powerful black-market fuel cartel operating across West Africa that is actively sabotaging efforts to establish a robust local refining industry across the continent.

Speaking at the Global Commodity Insights Conference in Abuja, Dangote accused shadowy fuel traders—many operating from offshore depots in Lomé, Togo—of deliberately crashing fuel prices to undermine the viability of newly built African refineries, including his $20 billion Dangote Refinery in Nigeria.

“Make no mistake, those who profit from this system will do everything they can to prevent other refineries from emerging,” Dangote warned. “The whole essence of Lomé is to ensure that no refinery operates in Sub-Saharan Africa.”

The business mogul revealed that as soon as his refinery began production, black-market players began flooding the West African market with underpriced imported fuel, making it nearly impossible for local producers to compete.

A Parallel Oil Economy Undermining Africa

The cartel’s strategy exploits Africa’s disjointed fuel regulations, allowing them to move cheap, often substandard fuel across borders with little scrutiny. This “parallel oil economy,” Dangote argued, is not only undermining local industry but threatening the continent’s energy independence and economic sovereignty.

Industry analysts say the practice discourages private investment in refining, forcing African nations to remain dependent on imported fuel—despite abundant crude oil reserves.

Call for Continental Action

Dangote called on African governments and regional bodies to confront the issue head-on by harmonizing fuel standards across borders, tightening regulatory oversight of offshore storage operations, and prioritizing the survival of local refineries as a matter of national and regional security.

“Africa must decide,” Dangote said. “Do we want to be eternally dependent on imported fuel or do we want to take control of our energy future?”

As the Dangote Refinery ramps up production to 650,000 barrels per day—making it Africa’s largest—the billionaire’s exposé could serve as a rallying cry for reform in an industry long plagued by corruption, inefficiency, and foreign manipulation.

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