Business
Ghana Plans to Buy Fuel from Nigeria’s Dangote Refinery to Lower High Import Costs
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.
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
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