Nigeria and Angola are positioned to spearhead Africa’s journey toward energy security, as the continent’s refining capacity is projected to surge and meet up to 90% of its fuel demand by 2025, according to the Africa Finance Corporation (AFC).
In its latest “State of Africa’s Infrastructure Report 2025”, the AFC noted that if fully optimized, Africa’s refining systems could drastically reduce dependence on fuel imports—nearly doubling current output from just 45% coverage in 2024.
“If fully utilized, refining capacity could meet up to 90% of the continent’s fuel demand—compared to just 45% last year,” the report stated.
To achieve this, the AFC emphasizes two critical investment pathways:
- Brownfield Upgrades: An estimated $16 billion is needed to modernize Africa’s existing refineries, ensuring they meet cleaner fuel standards and operate efficiently.
- Greenfield Investments: These involve new refinery developments, with Nigeria and Angola identified as emerging continental refining hubs due to their large-scale infrastructure projects and resource endowment.
The report highlights the importance of energy independence for Africa’s economic resilience and stability, particularly in the face of global market disruptions and supply chain constraints.
