Africa will be mostly self-sufficient in fuel by 2030 -Dangote

Dangote, the renowned African oil magnate, has expressed confidence that the continent will achieve self-sufficiency in refined fuel by 2030. On the cusp of breaking ground for a $16 billion refinery on Kenya's coast, Dangote announced plans for a facility with a projected capacity of 700,000 barrels of oil per day. The construction of this mammoth project is expected to span approximately 30 months.

In an interview with AFP, Dangote emphasized the importance of African nations transforming from exporters of raw materials to sellers of finished products. He stated unequivocally that by the year 2030, the majority of African countries would no longer require fuel imports. The refinery's location on Africa's soil is a crucial element of this strategy, according to Dangote.

Despite concerns surrounding the Kenyan project, which includes a land rights dispute and opposition from environmental groups such as Greenpeace, Dangote dismissed these apprehensions as unwarranted. He reasoned that there is no significant issue with such cases, as some individuals simply do not wish to see Africa develop.

Regarding the source of crude oil for the new refinery, Dangote revealed that the facility would obtain its feedstock from various locations, including the Middle East, the United States, and other global suppliers. He maintained that the refinery would be prepared to receive crude oil from countries in East Africa once they have begun significant production.

Dangote challenged the notion that Africa should wait until it accounts for a quarter of the world's population before taking action. Instead, he urged for immediate attention to the issue of fuel self-sufficiency. He used the example of U.S. President Donald Trump's threats to cease exporting diesel as a concrete example of the potential benefits of Africa producing and refining its own fuel.