When you think about Africa, the immediate thing that hits you is the massive stash of natural resources it boasts – from oil and cobalt to diamonds, platinum, and uranium.

Africa's proven oil reserves constitute 8% of the world's stock, and those of natural gas amount to 7%.

Thanks to these resources, Africa has become a crucial trading ally with various nations, including the United States and a bunch of other countries like China, Europe, and India.

Over the years, Africa and America have been swapping goods like minerals, agricultural produce, and crude oil. It's been a trade dance that has boosted the economies of both sides, even though it hasn't been a flawless fit all the time.

Not every African country also has the gear or setup to refine their crude oil at home. So, what happens is they export the raw crude and, in a twist of irony, bring in refined oil products to power up their own energy needs.

The costs and complexities associated with oil exploration, extraction, and refining often make it more feasible for these countries to import oil from global market players like America.

Below are 10 African countries that import the most oil from the U.S. according to Wisevoter:

Rank Country US crude oil import Global rank

1 Nigeria 125 Mbbl/d 11th

2 Libya 91 Mbbl/d 14th

3 Ghana 51 Mbbl/d 17th

4 Algeria 40 Mbbl/d 19th

5 Angola 36 Mbbl/d 25th

6 Egypt 32 Mbbl/d 28th

7 Cameroon 4 Mbbl/d 45th

8 Equatorial Guinea 2 Mbbl/d 52nd

9 Liberia 1 Mbbl/d 60th

10 Republic of the Congo 1 Mbbl/d
62th


The continent's proven oil reserves constitute 8% of the world's stock, and those of natural gas amount to 7%.

Thanks to these resources, Africa has become a crucial trading ally with various nations, including the United States and a bunch of other countries like China, Europe, and India.

When it comes to crude oil, for instance, trade goes back and forth. Even if certain African nations have their oil reserves, many still choose to import to bridge the gap between what they produce at home and what they need.

Dangote Refinery will be considered to have made fuel cheap in Nigeria if the refinery reduces the price below ₦150 per litre, just as Naira will be considered appreciated when it is less than 216 per dollar.

If Dangote refinery functions and fuel price becomes ₦200 or ₦150 per litre in Nigeria, saying that the refinery has made fuel cheap will be wrong. I say this because fuel price was below ₦150 per litre in the year 2013 when some people started saying that the refinery will reduce fuel price in Nigeria.

If Tinubu's administration makes Naira 300 or 220 per Dollar, saying that Tinubu has improved the economy will be wrong. I say this because Naira was 216 per Dollar when APC said the Dollar rate was too high.