In a surprising twist, Africa’s richest man, Aliko Dangote, has revealed that his flagship Dangote Refinery is importing between 9 and 10 million barrels of crude oil monthly from the U.S. and other nations. This admission comes during the West African Refined Fuel Conference in Abuja, and it raises eyebrows since Nigeria is renowned as the largest crude oil producer on the continent.
While Dangote praised the Nigerian National Petroleum Company Limited (NNPC) for making Nigerian crude oil available to his refinery, he lamented the heavy reliance on imported refined petroleum products that plagues Africa. To put things into perspective, the continent spends a staggering $90 billion each year importing over 120 million tonnes of refined products. Talk about a case of what gives?
During his address, Dangote didn’t shy away from critiquing the current state of Africa’s oil industry, calling the continent a dumping ground for cheap and substandard petroleum products. And while his refinery, boasting a 650,000-barrel-per-day capacity, began rolling out petroleum products in Nigeria last September, it seems the local sourcing of crude is still a challenge.
Statistics shared by Reuters highlight a wave of crude imports to Nigeria. In early 2025, the U.S. ramped up its exports to Nigeria, reaching 111,000 barrels per day in February and 169,000 barrels per day in March. Conversely, Nigeria’s imports tumbled from 133,000 barrels per day in January down to 54,000 and 72,000 barrels per day in February and March, respectively.
It’s indeed puzzling that even with Nigeria sitting atop the oil production throne in Africa, the country is finding itself championing a new title: the net importer of crude oil. The latest data from NNPCL revealed that crude oil and condensate production hit 1.68 million barrels per day in June, the highest output seen in six months—so where’s the disconnect?
As we dive deeper into this intriguing narrative, it’s clear that the complexities of crude production and refining in Nigeria merit further discussion. From infrastructural challenges to fluctuating market dynamics, these issues are not only pivotal but also resonate deeply with anyone keen on understanding the intricacies of Africa’s oil landscape. Stay tuned for a closer look as we address what this means for the future of the Nigerian oil industry and its global standing!
