After Kenya, Dangote launches a $2.5 billion oil project in Namibia

Nigerian billionaire Aliko Dangote launched a $2.5 billion fuel storage and transport project at the port of Walvis Bay on November 4, 2026, alongside Namibian President Netumbo Nandi-Ndaitwah. The depot is planned to hold about 600 million litres of fuel, including 360 million litres of diesel, and construction is expected to take 18 to 20 months. Nearly eight times larger than Namcor’s facility, it is intended to reduce transport costs and Namibia’s dependence on imports. A proposed 1,700-kilometre pipeline could later connect the terminal to Botswana, Zimbabwe and Zambia, with a possible extension to the Democratic Republic of the Congo.