Ivory Coast becomes Nigeria’s biggest trade partner in Africa after N2.05 trillion crude oil imports 

Ivory Coast has become Nigeria’s largest trade partner in Africa by importing N2.05 trillion worth of crude oil in the first half of 2024. This marks a significant increase in trade between the two countries, with exports rising by over 549% since 2020.

In the second quarter of 2024 alone, crude oil exports to Ivory Coast totaled N1.34 trillion, making up 9.2% of Nigeria’s overall crude oil sales during that period.

The increase in trade is due to Ivory Coast’s SIR refinery, one of the largest in West Africa, which processes up to 80,000 barrels of crude oil per day.

The country refines Nigerian oil for its own use and supplies to neighboring countries like Mali, Burkina Faso, and Togo. Nigeria’s crude oil is a crucial part of Ivory Coast’s plan to boost its refinery output by 25% in 2024.

The trade between the two nations shows how important crude oil is to their economic ties. Ivory Coast’s growing demand for Nigerian oil has now made it Nigeria’s largest trade partner in Africa, far ahead of South Africa, and a key player in the West African energy market.