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Tuesday, March 24, 2026
Africa’s richest man, Aliko Dangote, has warned that the
continent risks severe economic consequences if it fails to reduce its
dependence on imported fuel amid global supply uncertainties.
Dangote gave the warning during a media engagement in Lagos
while addressing developments around the Dangote Refinery and the impact of
rising global oil prices.
He said that ongoing tensions in the global oil market and
supply disruptions could significantly affect African countries that rely
heavily on fuel imports, stressing that the situation could worsen if proactive
measures are not taken.
According to him, “Africa must urgently invest in local
refining capacity, strengthen industrial production, and create policies that
support self sufficiency to avoid economic strain”.
Dangote added that with its vast natural resources, the
continent has the potential to meet its own needs but warned that failure to
act decisively now means “Africa will pay the price” in the long run.
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