Africa stands at a pivotal moment in global energy dynamics, with the opportunity to leverage its abundant fossil fuel resources for sustainable development.

The African Energy Chamber’s (AEC) 2026 Outlook Report, ‘The State of African Energy’, highlights the need for investment in refining capacity, trading networks, and cleaner fuels to meet 2050 demand projections.

Refined product demand is set to surge from roughly 4 million barrels per day (bpd) in 2024 to over 6 million bpd by 2050, driven by population growth, urbanisation, and economic expansion.

Africa’s population is projected to reach nearly 2.4 billion by mid-century, accounting for 25 per cent of the world’s population and 63 per cent of global growth, while GDP is expected to triple to $7.8 trillion.

Despite representing 18 per cent of the global population, Africa consumes less than 5 per cent of global oil, indicating substantial untapped potential.

Gasoline demand will rise as Africa becomes a key driver of global growth, exceeding 2.2 million bpd by 2050, especially in emerging markets like Nigeria.

Diesel/gasoil consumption will grow nearly 50 per cent to 2.7 million bpd, fueled by extractive industries, transport, and infrastructure projects.

Aviation fuel demand is also rebounding, expected to reach 465,000 bpd by 2050.

LPG emerges as a critical opportunity for cleaner cooking, offering health, environmental, and climate benefits.

Yet adoption remains low due to policy, infrastructure, and financing barriers, requiring targeted interventions to unlock its full potential.

Meeting Africa’s energy needs will demand over $20 billion in downstream infrastructure investment by 2050.

Strategic investments in local refining, efficient trading, and cleaner fuels will enable Africa to harness its energy resources, support economic growth, and improve quality of life for its projected 2.4 billion population.