Cameroon fuel supply to get Dangote refinery boost

Nigerian tycoon Aliko Dangote has agreed to bolster Cameroon's supply of refined petroleum products, the Cameroonian refinery company Sonara announced.

Sonara said the agreement would help Cameroon keep prices down and reduce the risk of fuel shortages caused by geopolitical instability.

“This agreement is of fundamental importance in the current context of tensions in the Middle East,” Sonara Director General Harouna Bako said in a statement dated October 29.

Sonara's local plant was wrecked in a 2019 fire, forcing Cameroon to become a net importer of refined fuel. Dangote's group owns Africa's biggest oil refinery in Nigeria and has interests across the continent.

Africa imports more than 70 percent of its refined fuel, according to an Africa Finance Corporation report in April.