There are 54 countries in Africa. More than 20 produce oil, and five of these countries are part of the world’s 30 oil-producing countries. However, only two countries in Africa do not import oil.
In 2019 Africa accounted for more than 7.9 million barrels per day, which is about 9.6 per cent of global output. Between 2005 and 2010, however, oil production in Africa rose to nearly 10 million barrels per day.
Speaking on Sunday [June 18, 2023] at the opening of the 30th Anniversary of the Afreximbank Annual Meetings in Accra, the businessman, Aliko Dangote, pointed out that even though there are oil producing countries on the continent, only two countries, Algeria and Libya, do not import oil.
Dangote who was speaking about the importance of free movement and intra-Africa trade, said: “We are importing poverty and exporting jobs.” He said that in relation to the fact that African countries continue to export raw materials.
He also expressed concern about the difficulty in travelling around the continent. He said he has the African passport, and should be able to travel around, but there are two countries that for some reasons do not recognise the African passport.
According to Dangote, Nigeria produces about six million tons of urea and therefore, Africa should not be seeking to import fertilizer from outside the continent.
