Africa's Oil Industry Sees Shift Towards Greater Self-Sufficiency

Africa remains a significant player in the global oil industry, accounting for approximately 10% of crude oil production by 2025. According to CEO Mark-Anthony Johnson of JIC Holdings, Africa is a major net exporter of crude oil despite facing challenges such as infrastructure constraints, security concerns, and political instability.

Nigeria emerged as the continent's leading oil producer and exporter in 2025, averaging between 1.5 million and 1.6 million barrels per day. Libya followed closely behind, producing and exporting roughly 1.2 million to 1.39 million barrels per day.

Algeria and Angola also played significant roles in Africa's oil industry, with Algeria averaging about 1.14 million barrels per day and Angola maintaining output and exports of more than 1 million barrels per day.

Africa's energy sector has historically been plagued by a major imbalance: the continent is a net importer of refined petroleum products such as gasoline and diesel due to limited domestic refining capacity. However, this situation is beginning to change with the expansion of major refining projects, including Nigeria's 650,000-barrel-per-day Dangote Refinery.