TotalEnergies, the French energy giant, has finalized its first supply deal with Dangote Refinery in Nigeria, as announced by Chief Executive Patrick Pouyanne on Friday. This development follows a meeting with Africa's wealthiest individual, Aliko Dangote.

Speaking at the Africa CEO Forum in Kigali, Rwanda, Pouyanne stated, "We met this morning and reached our first agreement. The two CEOs, along with our head of trading, collaborated to finalize the deal."

Dangote has been seeking crude supplies for his 650,000 barrels per day (bpd) refinery, which will be the largest in Africa and Europe once fully operational. In May, Dangote issued a tender for two million barrels of West Texas Intermediate (WTI) Midland crude each month for a year, starting in July, according to a document seen by Reuters.

The $20 billion refinery, which commenced production in January, is part of Dangote's strategy to reduce Nigeria's dependence on imported fuel and refined products, despite the country being Africa's leading oil producer.

Dangote revealed that the refinery has sufficient gasoline, diesel, and aviation fuel to meet the demands of the African continent and export to Brazil. "We have started producing jet fuel and diesel, and by next month, we will begin gasoline production. This will enable us to process most African crudes," he explained.

"Our refinery's capacity exceeds Nigeria's needs, allowing us to supply West, Central, and Southern Africa," he added. The next phase of the refinery is scheduled to commence early next year.

TotalEnergies is a significant crude producer in Nigeria, alongside other major companies such as Shell, Exxon, and Chevron.