Cameroon has marked a significant milestone as the first foreign importer of petroleum products from Nigeria’s Dangote Refinery. This development represents a step forward in regional energy collaboration and underscores the refinery’s growing influence in Africa’s oil market.
The inaugural export, consisting of 60,000 tonnes of refined petroleum, was supplied to Neptune Oil, a leading distributor and retailer in Central Africa. Neptune Oil announced plans to work closely with the Dangote Refinery to establish a stable supply chain aimed at stabilizing fuel prices and creating opportunities across the region.
Aliko Dangote, Africa’s richest man and the owner of the refinery, intends to export 56% of the refinery’s total fuel production to international markets. This move comes as the refinery faces challenges with crude oil supply, which could impact its operations.
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The $19 billion refinery, with a production capacity of 650,000 barrels per day (b/d), began selling gasoline within Nigeria in September. Initially, the Nigeria National Petroleum Company (NNPC) became its sole domestic buyer. The NNPC has long relied on fuel imports to meet domestic demand but sees Dangote’s operations as a crucial step in reducing this dependency and conserving foreign exchange reserves.
In October, the Dangote Refinery and NNPC launched a crude-for-gasoline swap arrangement settled in Naira, further strengthening the refinery’s role in Nigeria’s energy landscape.
Cameroon’s historic import signals the Dangote Refinery’s readiness to extend its reach beyond Nigeria and contribute to energy stability in Central Africa. This partnership with Neptune Oil is expected to foster regional growth and reinforce Dangote Refinery’s position as a key player in Africa’s refining industry.
