Dangote Refinery and Cameroonian company Neptune Oil have announced their first-ever export premium transaction of refined petroleum products to Cameroon.
This is geared at strengthening the economic bond between Cameroon and Nigeria.
In the press release on December 11, 2024, Aliko Dangote, Chairman and Managing Director of Dangote Group, explained that the transaction is the result of a strategic collaboration between the two companies.
He said it underscores their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s growing energy demands.
“This first export of PMS to Cameroon is a concrete demonstration of our vision for an integrated and energy independent Africa,” said Aliko Dangote.
“With this development, we are laying the foundation for a future where African resources are transformed and traded on the continent for the benefit of our people.”
Dr Antoine Ndzengue, Director and Owner of Neptune Oil, emphasised that the partnership with Dangote refinery marks a turning for Cameroon by becoming the first importer of petroleum products from this world-class refinery.
“This partnership with Dangote Refinery represents a decisive step for Cameroon,” said Dr Antoine Ndzengue.
“By accessing the petroleum products of this world-class refinery as the first importer, we are consolidating national energy security while promoting local economic development.
“This first delivery, made without the intervention of international intermediaries, reflects our determination to respond independently and efficiently to the needs of our markets. Additionally, thanks to the logistical advantages linked to proximity, it will contribute to reducing the subsidies on petroleum products granted by the Cameroonian State,” he said.
What it Means for Both Countries
For Nigerians, the collaboration between the companies demonstrates Dangote’s ability to meet domestic and exceed national needs while expanding its influence in the regional energy market.
For Cameroonians, the collaboration strengthens energy security and supports local economic development while securing a direct supply of fuel from Dangote Refinery and stabilising fuel prices.
Dangote Refinery, located in Lekki, Lagos State, Nigeria, is the largest single-train oil refinery in the world and one of Africa’s most ambitious industrial projects.
The refinery has a production capacity of 650,000 barrels per day (bpd).
Its primary goal is to refine crude oil into a variety of petroleum products, including gasoline, diesel, jet fuel, and liquefied petroleum gas (LPG).
Neptune Oil S.A. is a leading Cameroonian energy company founded in 2009, specializes in the trading and distribution of refined petroleum products.
It operates over 40 service stations across Cameroon, ranks third in the country’s petroleum sector, and contributes significantly to the economy with thousands of jobs.
The company emphasises high-quality fuel and environmental standards.
