The Africa Finance Corporation (AFC) has projected that Nigeria and Angola will be key drivers in transforming Africa’s energy landscape, aiming to meet up to 90% of the continent’s fuel demand through local refining
This bold projection was detailed in the AFC’s State of Africa’s InfrastructureReport2025, released in early June 2025.
The focus is on Nigeria and Angola, with ripple effects expected across West and Central Africa as they scale up refining and infrastructure.
The AFC believes that with full operational capacity, Africa can drastically cut petroleum imports from 55% in 2023 to just 10% soon.
Central to this ambition is Nigeria’s Dangote Refinery, commissioned in May 2023, which processes 650,000 barrels of oil per day, making it the largest in Africa.
Beyond Dangote, Nigeria’s government is reviving state-owned refineries, aiming to further strengthen domestic refining capabilities.
Angola, named as an emerging energy hub, is expected to anchor greenfield projects and infrastructure expansion alongside Nigeria. The AFC calls for around $16 billion to upgrade existing refineries and urges new investments in transportation infrastructure, pipelines, ports, and rail.
All developments must be climate-resilient and aligned with future energy transition goals, the report stresses.
With strategic investment and coordination, AFC believes Africa can shift from a fuel-importing continent to one that is largely energy self-sufficient, led by Nigeria and Angola.