The richest man in Africa, Aliko Dangote, has highlighted the severe inefficiencies that still plague intra-African trade by stating that shipping products from Lagos to Accra is frequently more expensive than shipping goods from Spain to Nigeria.
In an interview with Makhtar Diop, Managing Director of the International Finance Corporation, Dangote emphasised the structural obstacles that continue to impede regional trade, such as fragmented trade corridors and inadequate transportation infrastructure.
“It costs more to ship from Lagos port to Accra than from Spain to Lagos,” he stated, highlighting the high expense of transportation inside the continent as opposed to international routes.
“There’s no way you can do trade with your neighbours like this,” he added.
“When we look at the transportation sector, most of the people who own ships that move goods around are not Africans.”
Dangote stated that one of the most significant barriers to Africa’s economic integration is the inability to transport commodities, services, and people seamlessly.
“Somebody like me needs 38 visas to move around. How do I invest now if I’m not able to move around? It doesn’t make sense. Nobody has time to keep applying for visas.”
“Without this, there’s no way we are going to have a very prosperous Africa,” he said. “I cannot move my goods from Lagos to the Republic of Benin, and when you try to cross the border, you can be there for a week, if you are lucky.”
Dangote is the leader of the Dangote Group, which deals in oil refining, fertiliser, and cement.
The business is a major player in the production of cement throughout the continent and is present in 17 African nations.
With operations in eleven African nations, its cement division, Dangote Cement, brought in over $3 billion in revenue in 2025.
In order to boost capacity from roughly 55.17 million tonnes to 80 million tonnes, the corporation has started an ambitious expansion program that includes a $1 billion investment plan over the next four years.
The $20 billion Dangote Petroleum Refinery and Petrochemicals, one of the biggest single-train refineries in the world, is the backbone of Dangote’s industrial presence outside of cement.
With a refining capacity of 650,000 barrels per day, the facility is currently expanding to produce roughly 1.4 million barrels per day. This step is anticipated to greatly increase Nigeria’s fuel self-sufficiency and regional energy supply.
In order to increase agricultural output and lessen the continent’s reliance on imported fertiliser, he also oversees the Dangote Fertiliser Complex, one of the biggest in Africa.
According to Dangote, these investments are only worthwhile if Africa removes its structural trade obstacles.
He stated that “free movement of people, free movement of goods and services, these are critical areas.”
Source: newsthemegh.com