As the crude oil price continues to soar, the focus has turned to Nigeria. The Nation gathered that several African countries are turning to Dangote Refinery for oil.
World oil prices are experiencing high volatility and upward pressure in March 2026, driven by the US-Israel-Iran conflict, with Brent crude surging over $100 per barrel.
According to Bloomberg, Ghana, South Africa, and Kenya are among the countries seeking to purchase petroleum products from the refinery. “African nations that have long been reliant on giant refineries in the Persian Gulf for fuel are in a bind as the Iran war chokes off supplies,” the publication said.
According to the report, this shift has brought an end to the country’s long-standing practice of exporting crude oil for refining and then re-importing it at a significantly higher cost.
Reports disclosed that there is sufficient demand for petrol and diesel within Nigeria to soak up about three-quarters of the refinery’s output, leaving the rest available for export.
Ghana, South Africa, and Kenya are among the African countries that have indicated their interest in patronizing Dangote. “The plant won’t be able to fully meet the regional fuel-supply deficit, and most countries don’t hold sufficient strategic reserves to buffer consumers against extended shortages,” the publication said.
“Some governments and firms are already making contingency plans. “Ethiopia is urging citizens to use fuel sparingly and says public-transport providers will get priority access, while South African coal miner Exxaro is taking steps to ensure it can power its vehicles and operations.”
The report added that the jockeying that is set to take place for fuel is expected to boost Dangote’s profits.
