Africa’s richest man complains of toxic, low-grade Russian fuel

Africa’s richest man, Nigerian billionaire Aliko Dangote, has warned that cheap Russian oil products pose a serious threat to the continent’s refining industry.

Dangote, who owns Africa’s largest oil refinery located near Lagos, Nigeria’s largest city, cautioned against increasing volumes of Russian fuel flooding African markets at steep discounts.

"We are now increasingly facing the dumping of cheap, often toxic petroleum products, some of which are blended to substandard levels that would never be allowed in Europe or North America," Dangote said at an oil conference in Abuja, Nigeria’s capital.

He attributed the surge in Russian oil exports to Western sanctions, which have forced Russia to offload fuel at significantly reduced prices to alternative markets, including Africa.

Still, Africa remains a relatively small market for Russian petroleum products, compared to major buyers such as Turkey and Brazil.

According to Times Live, in June, Russian exports of diesel and gas oil to African countries totaled around 700,000 tons, with Morocco, Tunisia, Togo, and Egypt among the largest importers.

Although Africa produces around 7 million barrels of crude oil per day, only 40% of its petroleum consumption is refined locally. The continent still imports over 120 million tons of refined petroleum products annually.

To protect domestic industry, Dangote urged African governments to introduce safeguards similar to those used in the United States, Canada, and Europe, such as import tariffs and emissions standards.

• Dangote owns Dangote Industries, a conglomerate that includes Dangote Refinery — the largest in Africa — as well as Dangote Cement, one of the continent’s leading cement producers. His business interests also span sugar, salt, oil, food processing, and fertilizer production.