₦airaland Forum

Dangote petroleum refinery will construct storage tanks in Namibia to hold at least 1.6 million barrels of petrol and diesel to supply refined fuel to southern Africa, a Reuters report has said.

Quoting two sources, it said that the move underscores the refinery’s ambition to dominate fuel supply in Africa and beyond, potentially reshaping energy trade flows in the region and boosting access to refined products for southern African nations.

The 650,000 barrels per day refinery, built at a cost of $20 billion by Africa’s richest man Aliko Dangote, started operations last year and has been ramping up production and seeking new markets.

The sources, who Reuters said were briefed on the development, said the storage tanks would be used to supply petrol and diesel to Botswana, Namibia, Zambia and Zimbabwe.

Dangote was also considering supplying fuel to southern Democratic Republic of Congo, the sources said. A Dangote spokesperson did not respond to a request for comment. It was not immediately clear how much the project would cost, but the second source said construction of the storage tanks would begin shortly in the port city of Walvis Bay.

A Namibia Ports Authority official confirmed the plans to Reuters and said the storage tanks would be housed within the Walvis Bay harbour.

A source said last month that a Dangote petrol cargo was heading to Asia, the first time the refinery was selling the fuel outside the West Africa region. Dangote refinery says at full capacity, the plant would produce enough to meet demand in Nigeria, which has sharply cut imports of processed fuels, and export the rest.

Meanwhile, oil futures sank yesterday as the escalating global trade war and the possibility that the Organisation of Petroleum Exporting Countries and its allies (OPEC+) may halt output hikes flashed warning signs for energy demand, a Bloomberg report said.

West Texas Intermediate (WTI) futures fell as much as 2.6 per cent to trade below $67 a barrel after Bloomberg reported that the cartel is discussing a pause in further production increases from October. Brent was selling for $68.90 per barrel last night. The early-stage deliberations are taking place as President Donald Trump unveils a new round of tariffs, including a 50 per cent rate on Brazil, which sends some oil to the US.

Traders are probably interpreting the OPEC+ talks as a sign that “the market may not be able to cope with more oil,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “We are potentially seeing the risk of an oversupplied market” once the peak demand period ends, he said.

The US-led tariff war has intensified in recent days, and Trump’s latest salvo of demands has overshadowed earlier deals with major trade partners including China and the UK, which had served to mollify investors. Now, the market is facing some of the highest tariff rates in US history, setting the stage for an uncertain period for global growth.

Oil has edged higher this week even after OPEC+ decided over the weekend to raise output by more than expected in August. Energy Aspects said it expects global oil demand to rise by less than 1 million barrels a day in the third and fourth quarters amid pressure from US tariff policies.

Houthi attacks in the Red Sea have sunk two cargo vessels and left multiple crew members dead. The escalation has notably failed to inject a risk premium into oil prices, with investors reluctant to buy on geopolitical developments after a standoff between the US and Iran spared energy infrastructure.

Kingpele:
Dangote Dangote Dangote still dey fine money, maybe we should make Dangote president for 4 years ,so that he will manage our resources the way he's managing his group of companies...we have lazy greedy old thieves leeching on our public funds

tosyne2much:
Being a president and being a business man are two different things

Funny enough, he might perform woefully as a president

SmartPolician:
Has Dangote been able to satisfy the Nigerian market before considering the Southern Africa oil trade flow? Nigeria should be Dangote's priority because CBN, NNPC and Nigerian banks believed in that dream and invested so much in the refinery.

PRINCESSFCFANSs:
OK

But Nigerians should be struggling to buy fuel



we are watching ,


Princess Faith Chukwuamaka

SmartPolician:
Has Dangote been able to satisfy the Nigerian market before considering the Southern Africa oil trade flow? Nigeria should be Dangote's priority because CBN, NNPC and Nigerian banks believed in that dream and invested so much in the refinery.

koladata:
This is what Nigerian government should be doing across Africa if they are serious, see south African doing businesses across Africa, see mtn, see dstv. kudos to Dangote, but Nigeria is richer than him meanwhile he was able to use his money wisely by creating presence across africa

SmartPolician:
Has Dangote been able to satisfy the Nigerian market before considering the Southern Africa oil trade flow? Nigeria should be Dangote's priority because CBN, NNPC and Nigerian banks believed in that dream and invested so much in the refinery.

Kingpele:
Dangote Dangote Dangote still dey fine money, maybe we should make Dangote president for 4 years ,so that he will manage our resources the way he's managing his group of companies...we have lazy greedy old thieves leeching on our public funds...they have no known businesses ,they steal billions, so that they will be able to continue to live large throughout the rest of their lazy lives

PDPdestroyer:
I still don’t believe there is any Dangote refinery anywhere. Abi my Obidient friends, have you agreed Dangote refinery exists and working, contrary to your postulations?

PDPdestroyer:
I still don’t believe there is any Dangote refinery anywhere.

Abi my Obidient friends, have you agreed Dangote refinery exists and working, contrary to your postulations?

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

PRINCESSFCFANSs:
OK

But Nigerians should be struggling to buy fuel

we are watching ,

Princess Faith Chukwuamaka

anonimi:
May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

tosyne2much:
Being a president and being a business man are two different things

Funny enough, he might perform woefully as a president

anonimi:
Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?

In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;

or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority?
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The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.

Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.

https://www.thisdaylive.com/index.php/2024/10/12/neo-black-problem-must-blacks-be-ruled-by-whites-in-order-to-prosper/