Game-Changer: Dangote Refinery To Build 1.6 Million-Barrel Fuel Tanks In Namibia

According to NIVONEWS, this strategic expansion is part of the refinery’s growing ambition to dominate Africa’s fuel supply chain and reshape regional energy trade routes.

The project, first reported by Reuters and corroborated by sources briefed on the matter, will enable the supply of fuel to countries including Botswana, Namibia, Zambia, Zimbabwe, and potentially southern Democratic Republic of Congo. According to NIVONEWS, the storage facilities will be built in the port city of Walvis Bay, with construction set to commence soon. An official from the Namibia Ports Authority also confirmed that the tanks would be located within Walvis Bay harbour.

The $20 billion, 650,000 barrels-per-day Dangote Refinery, spearheaded by Africa’s richest man, Aliko Dangote, began operations last year and has steadily increased its production output. Recently, a Dangote cargo was reportedly shipped to Asia, marking the refinery’s first fuel sale beyond the West African region. At full capacity, the refinery is projected to meet Nigeria’s domestic demand while exporting surplus refined products across Africa and other continents.

According to NIVONEWS, a spokesperson for the Dangote Group has yet to comment on the cost of the Namibia project, but sources suggest the company is accelerating efforts to establish a regional fuel hub in southern Africa.

Meanwhile, in the global oil market, futures dropped sharply amid fears of weakening demand. West Texas Intermediate (WTI) crude fell as much as 2.6%, trading below $67 per barrel, following a Bloomberg report that OPEC+ may pause planned output hikes from October. Brent crude also slipped, trading at $68.90 per barrel.

Analysts say the cartel’s internal discussions, combined with escalating trade tensions led by U.S. President Donald Trump’s new tariff measures, have unsettled investors and raised fears of an oversupplied market. Despite recent OPEC+ moves to boost output, energy analysts now project global oil demand to grow by less than 1 million barrels per day in the second half of the year.

Tensions in the Red Sea region have also intensified, with recent Houthi rebel attacks sinking two cargo vessels and causing multiple casualties. However, the geopolitical volatility has yet to significantly influence oil prices, as traders remain cautious amid broader economic uncertainties.

”NIVONEWS REPORTS”