Business

Ghana Plans to Buy Fuel from Nigeria’s Dangote Refinery to Lower High Import Costs

Published

2 years ago

October 29, 2024

Photo source: Google

Ghana has announced plans to purchase petroleum products directly from Nigeria’s Dangote Refinery, aiming to reduce the significant costs of importing fuel from Europe.

This decision, revealed by Mustapha Abdul-Hamid, Chairman of Ghana’s National Petroleum Authority, came during his address at the OTL Africa Downstream Oil Conference in Lagos.

For years, Ghana has imported its petroleum from European markets, primarily Rotterdam, with costs reaching around $400 million monthly.

By sourcing fuel from Dangote Refinery instead, Abdul-Hamid believes Ghana could not only ease the financial strain of imports but potentially lower petrol prices for Ghanaians.

“If Dangote’s refinery can produce 650,000 barrels a day, Nigeria alone won’t need all of that supply,” he stated.

“Rather than continuing to import from Europe, it would be easier—and likely more affordable—for us to source directly from Nigeria.”

The Dangote Refinery, Africa’s largest and most advanced, began distributing petroleum products in September 2024, partnering with the Nigerian National Petroleum Company Limited (NNPC) as its primary off-taker.

The facility’s vast production capacity has attracted attention from neighbouring countries like Ghana, which hopes that local access will make fuel costs more manageable.

Business

OPay Introduces New Security Features for Customers

Published

3 weeks ago

June 29, 2026

Ese Ohwofa

Nigerian fintech company OPay has introduced new security features to improve the safety of its application.

The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.

The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.

The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.

Business

Nigeria’s Agricultural Sector Cannot Thrive Without Investment – FG

Published

4 weeks ago

June 24, 2026

Ese Ohwofa

The Federal Government of Nigeria has spoken on the agriculture sector of the country and shared that, in its current state, it needs more capital as it cannot stand alone without it.

They stated that even more capital will be needed in order to transform the agricultural sector and improve food production in Nigeria.

“Relying solely on public capital will not suffice to finance the transformation of Nigeria’s agricultural sector. Similarly, private capital will not be mobilised at the necessary scale unless the associated risks are comprehensively understood, appropriately allocated, and effectively managed.”