Nigeria has emerged as West Africa’s top intra-African trading nation in 2024, recording approximately $18.4 billion in trade with other African countries—more than double the $8.1 billion figure reported in 2023.
This is according to the newly released African Trade Report 2025 published by the African Export-Import Bank (Afreximbank).
The surge in trade was driven largely by crude oil exports and an accelerating shift toward refined petroleum products, spurred by the launch of the Dangote Refinery in Lagos—Africa’s largest refinery with a processing capacity of 650,000 barrels per day.
“In West Africa, Nigeria emerged as the region’s largest intra-African trading country, as trade with the rest of Africa expanded to reach approximately $18.4 billion in 2024,” the report stated.
The refinery, which began operations in 2024, has already started supplying petroleum products directly to markets like Cameroon and other neighbouring countries, reducing reliance on intermediaries and enhancing regional energy integration.
Analysts say the development marks a turning point for Nigeria’s trade landscape, positioning the country not just as an oil exporter, but as a growing hub for refined products within Africa.
