• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

AFC Names Nigeria, Angola as Front-Runners in Africa’s Energy Transformation

2 months ago
in Business, Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
106
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

AFC Names Nigeria, Angola as Front-Runners in Africa’s Energy Transformation

Nigeria and Angola are now central to Africa’s push for energy security, with the Africa Finance Corporation (AFC) projecting that refining capacity on the continent could meet up to 90% of its fuel demand, almost double from last year’s 45%.

This projection was made in the AFC’s newly released “State of Africa’s Infrastructure Report 2025.” The report highlights that if existing and upcoming refineries operate at full capacity, Africa’s reliance on imported petroleum products could reduce drastically.

Dangote refinery and Nigeria’s strategic role

The Dangote Refinery in Nigeria is described as the most significant facility leading this transformation. Commissioned in May 2023, it is Africa’s largest oil refinery, with a daily processing capacity of 650,000 barrels.

Its scale positions it as a crucial tool for reshaping not just Nigeria’s, but the continent’s energy landscape. Alongside Dangote, the ongoing reactivation of Nigeria’s government owned refineries is also expected to play a significant role.

In 2023, 55% of Africa’s petroleum product demand was met through imports. But the AFC believes that if the continent’s full refining potential is realized, this figure could drop to just 10%.

Alongside Dangote, the ongoing reactivation of Nigeria’s government owned refineries is also expected to play a significant role.

Nigeria’s infrastructure, if effectively managed and upgraded, will therefore be essential to this reduction.

President Bola Ahmed Tinubu has also praised the Dangote Petroleum Refinery, calling it a “great phenomenon of our time” and a symbol of Nigeria’s industrial capacity and economic strength.

The investment imperative: brownfield and greenfield projects

To reach this potential, the AFC recommends a dual investment strategy. First, about $16 billion is needed to upgrade existing refineries, a move that would improve fuel quality and reduce imports. Second, greenfield projects, such as those in Nigeria and Angola, are key to meeting long-term demand and anchoring future energy independence.

These investments must also address challenges in transportation and distribution networks, including pipelines, railways, and port infrastructure. The report emphasizes that any new energy infrastructure must also be resilient enough to support future energy transitions.

While Nigeria leads with infrastructure like the Dangote Refinery, Angola is also named by the AFC as a rising hub. Both countries are expected to drive new investment and infrastructure across West and Central Africa, helping the continent achieve fuel security and reduce external dependency.

By focusing on both new developments and existing capacity, Nigeria and Angola are positioned to lead Africa’s path toward energy independence.

Source: businessinsiderafrica
Via: norvanreports
Tags: AFC Names NigeriaAfrica’s Energy TransformationAngola as Front-Runners in Africa’s Energy Transformation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.