THE African Export-Import Bank (Afreximbank) has pledged strong support for the Dangote Group’s energy initiatives, aiming to significantly reduce Africa’s reliance on imported fuel and advance the continent’s quest for energy independence.

Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, highlighted the partnership during the bank’s Mid-Year Media Roundtable held in Abuja on Wednesday.

While discussing Afreximbank’s recent S&P rating and its strategic interventions across the region, Elombi underscored the country’s pivotal role in Africa’s energy landscape, particularly in refined petroleum products and fertilisers.

“The Dangote Group is currently exporting fertilisers to Europe, Brazil, and Germany, but efforts are underway to redirect these exports to African countries to boost intra-African trade,” Elombi stated. “A $4 billion investment is planned to expand the refinery’s capacity, with $2.5 billion already advanced by the bank.”

The initiative envisions a comprehensive energy infrastructure network spanning East and West Africa. Plans include building refineries in Ethiopia and establishing storage facilities along key coastal areas, complemented by pipelines to ensure stable supply chains.

According to him, this framework is designed to enhance resilience during global crises, such as disruptions in the Gulf, while attracting greater foreign investment and keeping more economic value within the continent.

Elombi emphasized the need for larger refining capacities to match rising demand, noting ambitions to scale operations from 400,000 to 700,000 barrels per day in strategic locations. The strategy also incorporates smaller refinery units in Nigeria, Congo, Angola, and Ethiopia, alongside expanded fertilise

“Nigeria is the heartbeat of the African continent,” Elombi declared. “When you stop the energy, everything comes to an end. The heart stops beating.” He pointed to the Dangote projects as a demonstration of Nigeria’s strategic importance, which has already yielded tangible benefits, including foreign exchange stability from reduced petroleum imports.

The Afreximbank chief referenced recent engagements, including with Ethiopian Airlines, which confirmed that investments in Nigerian refining capacity helped sustain operations during the Gulf crisis when global supply chains were strained. “Africa didn’t lack in its refined petroleum products,” he noted, adding that similar preparedness is being extended to fertilisers and broader regional infrastructure.

The partnership is expected to foster success across multiple African nations, with Afreximbank actively supporting expansions in countries such as Kenya, Tanzania, and Uganda. By strengthening local refining, storage, and distribution networks, the collaboration seeks to position Africa as more self-reliant in energy matters and better equipped to weather external shocks.

This latest development reinforces Afreximbank’s commitment to transformative projects that promote intra-African trade and economic resilience, aligning with broader continental goals under the African Continental Free Trade Area (AfCFTA).

Industry observers view the Dangote-Afreximbank alliance as a significant step toward turning Africa’s vast energy potential into tangible self-sufficiency.

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