Cameroon has become the first foreign buyer of refined petroleum from the Dangote Refinery in Nigeria.
The first shipment, totaling 60,000 tonnes of refined petroleum, was delivered to Neptune Oil, a prominent distributor and retailer in Central Africa.
Neptune Oil said it is collaborating with Dangote Refinery to establish a “reliable supply chain” that will help stabilize fuel prices and create opportunities across the region.
Dangote Group founder Aliko Dangote has plans to export 56% of the refinery’s total fuel production, despite ongoing challenges in securing a consistent supply of crude oil, which could impact the refinery’s operations.
The 650,000-barrel-per-day facility began domestic gasoline sales in September, with the Nigerian National Petroleum Corporation (NNPC) as its sole buyer.
NNPC has traditionally relied on imports to meet domestic gasoline demand but hopes that Dangote’s refinery will reduce this dependency and help preserve foreign exchange for the government.
In October, Dangote and NNPC launched a crude-for-gasoline swap agreement, which is settled in Nigeria’s local currency, the Naira.
