Nigeria currently imports more than 80% of its refined petroleum products. The country is the largest importer of refined petroleum products in Africa. Nigeria’s new Dangote petroleum refinery is Africa’s biggest – it will produce 650,000 barrels a day, giving it the potential to address the country’s energy supply crisis. Owned by Nigerian industrialist and Africa’s richest man, Aliko Dangote, the refinery is expected to boost domestic refining capacity, getting rid of the current consumption shortfall. Why is Africa a net importer of oil while it has its won oil ?
