Nigeria Hopes New Refinery Will Cut $26B Import Bill

June 10, 2023/in /by Rudolf Huber

Nigeria is a funny case. They are one of the biggest oil producers on the African continent but they are also a major fuels importer. The entire Subsaharan bit of Africa suffers from this problem. This refinery is a drop in a bucket but it’s more than overdue. What would also lighten the load is transitioning the economy towards more gas use. African countries are among the biggest gas-flaring countries on Earth. If they used this gas for power or even local fueling of small vehicles, they could reduce flaring, reduce the import bill for fuels and air quality would also massively improve. African cities could do with less pollution.

Nigeria is banking on the giant refinery to pay down $26 billion in dues for imported oil products and fertilizer.

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