Nigerian billionaire Aliko Dangote warned on Tuesday that a wave of cut‑price Russian diesel and petrol is being “dumped” across Africa, threatening the economics of the continent’s new refineries, including his own $20 billion, 650,000‑barrel‑per‑day plant outside Lagos.
Speaking at the West African Refined Fuel Conference in Abuja, the industrialist said international traders were off‑loading “cheap, often toxic petroleum products … blended to levels that would never be allowed in Europe or North America,” taking advantage of sanctions‑driven discounts on Russian barrels.
He singled out the floating storage hub off Lomé, Togo, where more than 2 million barrels of refined fuel sit in tankers, ready to undercut local supply. “Without political support I don’t think any new large refinery will be built any time soon,” Dangote told delegates.
Africa pumps about 7 million barrels of crude a day but refines only 40 % of what it consumes, forcing the continent to import some 120 million tonnes of fuel annually. Although the Dangote refinery has exported roughly 1 million tonnes of petrol since June, it has struggled to source Nigerian crude as producers chase hard‑currency sales abroad.
Shipping data show Russian diesel and gasoil flows to Africa slid 30 % in June to roughly 0.7 million tonnes, yet analysts say the region remains a prime outlet behind Turkey and Brazil.
Dangote urged African governments to copy U.S. and EU tactics—such as emissions caps and import tariffs—to block sub‑standard fuel and defend domestic processors. Russia’s energy ministry did not immediately respond to a request for comment.
