Since the fire at its only refinery in 2019, Cameroon has had to balance securing its fuel supplies, controlling its import bill and relaunching its national refining capacity.The Société nationale de raffinage du Cameroun (SONARA) has concluded an agreement with MRS Oil & Gas and Nigeria’s Dangote group to supply the Cameroonian market with refined petroleum products. Signed on October 22 in Lagos, the contract is meant to secure part of the country’s imports, which have been entirely dependent on foreign supply since the shutdown of its only refinery in 2019.
The announced terms describe a 30 month commitment. Dangote will supply the refined products, MRS will handle transport and logistics, and SONARA will be the buyer and national distributor, MRS will also bear the risks related to quantity, quality and insurance of the cargoes until they arrive in Limbe a city in southwestern Cameroon.
The announced supply nonetheless calls for a caveat. Some sources cite coverage of 50% of national needs, while another reports that Dangote will supply half of the volumes corresponding to SONARA’s share, estimated at 80% of the market. These two estimates are not equivalent and do not allow a single figure to be used. Discussions began in January 2026, during a visit to Lagos by a delegation from the state-owned company led by its managing director, El Hadj Bako Harouna.
Securing supplies and their financing
In 2025, Cameroon imported 2.02 million tonnes of white petroleum products at a cost of about €1.2 billion, according to data reported by EcoMatin. Using the Dangote refinery, located in Lekki, Nigeria, offers a geographically close source of supply. Its products are presented as compliant with Afri-5 specifications for gasoline and diesel. SONARA’s commercial management also sees the agreement as a way to strengthen quality control, after several cargoes were rejected in earlier imports.
The financing structure involves MRS issuing a letter of credit in favor of Dangote, while SONARA must issue one in favor of MRS. This mechanism is meant to guarantee payment to the supplier before loading, in a context where the Cameroonian company has difficulty financing its purchases directly. The preparatory terms provide a 60-day payment period for invoices. Recall that in September, SONARA obtained €189 million from the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group. This envelope is meant to help finance operations and does not represent the value of the contract. A “back-to-back” pricing mechanism should also allow the company to track Dangote’s exit price and the costs added up to Limbe.
Reconstruction remains a separate challenge
The partnership does not restore national refining capacity. Cameroon is preparing the reconstruction of SONARA, a project estimated at €1.1 billion, with a target capacity of 3.5 million tonnes of crude per year, or roughly 70,000 barrels per day. A timeline presented in June 2026 provides for a partial restart within 18 months of the start of works, and completion within 3 years. Supplying this future facility remains a constraint. Its annual needs are estimated at 24 million barrels, against national production of 19.4 million in 2025. Of that total, the State directly controlled only about 12.7 million barrels. The refinery would therefore have to supplement its supply from other producers or suppliers.
The agreement with Dangote organizes part of the imports. The reconstruction of SONARA remains conditional on mobilizing financing, completing the works and the availability of the crude needed for its operation.
