(Business in Cameroon) – Cameroon imported nearly 1.8 million tons of refined petroleum products between January and October 2025, according to figures released by the minister of Water and Energy during the 2025 budget presentation before the National Assembly’s Finance Committee.
Gaston Eloundou Essomba reported that around 1.6 million tons of super, gasoil, and kerosene were imported over the period, along with 208,210 tons of domestic gas. These purchases cost several billion CFA, putting additional pressure on Cameroon’s foreign exchange reserves.
The scale of these imports renews calls to rehabilitate the National Refining Company (Sonara), the country’s only oil refinery, which has been out of service since a fire in May 2019. Despite interest from potential investors, the project has stalled for six years, forcing Cameroon to import all the petroleum products it consumes and widening the national trade deficit.
Initially estimated by the government at CFA250 billion, the cost of rehabilitating Sonara has been revised to CFA300 billion, based on a detailed feasibility study by France’s Axens. The information was disclosed on November 26, 2025, by Prime Minister Joseph Dion Nguté during the presentation of the government’s 2026 economic, financial, social, and cultural program to the National Assembly.
Although more expensive, the project continues to attract potential financiers. On June 17, 2025, representatives from the Union of Arab and French Banks (UBAF), Dutch bank ING, and Mauritius Commercial Bank visited Limbé for discussions with Sonara’s leadership on reviving the refinery.
The Bank of Central African States (BEAC) has also expressed willingness to support the project through its “window B,” used to refinance medium-term loans for productive investment. The Cemac central bank aims to provide up to 60% of the required financing.
BEAC governor Yvon Sana Bangui confirmed on September 29, 2025, during a press conference closing the third session of the Monetary Policy Committee, that the institution had taken the initiative to engage authorities on using this mechanism to help rehabilitate Sonara.
BRM
