Dangote Envisions Africa Ending Petrol Imports by 2030

Aliko Dangote, the Nigerian billionaire and President of Dangote Industries Limited, has predicted that by 2030, African countries will largely cease importing refined petroleum products from outside the continent. This statement was made in Nairobi ahead of the groundbreaking for a $16 billion refinery project in Lamu, Kenya, which is designed to process 700,000 barrels of crude oil per day.

Construction of the facility is expected to take approximately 30 months. Despite facing challenges such as a land rights court case and environmental concerns raised by organizations like Greenpeace, Dangote remains confident that these issues will not impede progress.

He noted that the refinery is intended to source crude oil from various regions, including the Middle East and African producers, as their output increases. Dangote emphasized the importance of Africa processing its raw materials rather than exporting them unprocessed, highlighting the risks of relying on external suppliers for essential energy products.