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Fossil investments: Why Africa expands its oil refineries

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Published: May 14th, 2025,
Last updated: May 15th, 2025

Oil and petrochemical refinery in Kaduna, Nigeria.
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Many African countries continue working together to expand their fossil fuel infrastructure. They want to become less dependent on the international oil markets, secure their energy supply and keep oil revenues in Africa, even if this conflicts with their climate targets. The African Export-Import Bank (Afreximbank) recently launched a three billion US dollar loan system to boost intra-African oil trade, despite the climate commitment it made at COP29.

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