In her forward-looking vision to position her country and make the country’s seaport more attractive, the new president of Namibia has succeeded in attracting the Nigerian oil giant Dangote Petroleum Refinery, which has announced its intention to build a major oil terminal in the strategic port of Walvis Bay.
Aliko Dangote, Africa’s richest man, is preparing to build fuel storage tanks with a capacity of at least 1.6 million barrels of gasoline and diesel. These tanks will supply countries in Southern Africa, including Namibia, Botswana, Zambia, Zimbabwe, and potentially the southeastern part of the Democratic Republic of the Congo, positioning Walvis Bay as a regional fuel distribution hub.
This project would create jobs, enhance energy security, and make the city a key regional hub for gasoline and diesel distribution.
Although Southern Africa is still heavily dependent on South African refineries, some of which are outdated or shut down, Dangote’s arrival as a new regional supplier could disrupt the market balance. The Dangote refinery, which was completed in 2023 near Lagos, has a refining capacity of 650,000 barrels per day. This significant project was financed by Aliko Dangote for a total amount of $20 billion.
Therefore, the refined product in Nigeria will be distributed in Namibia, which is worth noting as it joins the circle of oil-producing countries courted for some time by OPEC.
