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.
Dangote Refinery has announced a fresh reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol.
The company, which is one of Nigeria’s leading oil producers, announced in a statement shared by its spokesperson, Anthony Chiejina, on its official X account on Thursday.
Effective immediately, Dangote Refinery has lowered the ex-depot price of petrol to N899.50 per litre, down from the previous rate of N970.
In his statement, Chiejina mentioned the company’s commitment to helping alleviate the financial burden on consumers during the holidays.
“We have now announced a new price of N899.50 per litre.
This reduction is designed to ease transport costs during the festive period,” he said.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS.
From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.”
In addition to the price reduction, Dangote Refinery has introduced a new incentive to make fuel more accessible for consumers.
Chiejina explained that for every litre of petrol purchased on a cash basis, buyers will have the opportunity to acquire an additional litre on credit.
This offer is backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank, providing customers with more flexible payment options.
Price of beans drops and news excites traders and consumers. Residents as well express joy with price drop amid the upcoming Christmas holiday. According to a report, the price of beans has sustained a slight drop as 100kg bag of beans is sold for 150k Naira to 140k.
The price of a bag has now dropped to 100k to 120k, depending on the type of beans. It was reported that the price of beans has been dropping for the past two weeks unlike the past months.
Nigeria’s Oil Production increased in November 2024 and has reached 1.69 Million per day going 10% increase compared to that of October production.
This now secures Nigeria’s oil production as the top in the Africa Oil Production.
The crude oil production rose with 11.42% but the condensation production reduced. Despite the great progress of the production, Nigeria’s oil production still has not reached their 2024 goal of 1.78mbpd.
Rema and Asake Feature in Barack Obama’s Favorite Songs of 2024
Michael Owen Claims Manchester City is the Ideal Fit for Messi’s Premier League Return
Poll: Choose Your Favorite Christmas Song?
-
Entertainment16 hours agoQing Madi: The Achievements of the 18-Year-Old in the Nigerian Music Industry
-
Entertainment15 hours agoWeekend Vibes: Throwback To Olamide’s Biggest Hits
-
Uncategorized20 hours agoWilliams Uchemba Gifts Wife Rolex Watch as Push Present
-
Sport24 hours agoPSG Plan to Sell Kolo Muani to Make Room for Victor Osimhen in January
-
Entertainment15 hours agoPoll: Choose Your Favorite Christmas Song?
-
Sport24 hours agoCarragher Says Arsenal Need a Stronger Left Wing and a More Reliable Striker
-
Entertainment15 hours agoRema and Asake Feature in Barack Obama’s Favorite Songs of 2024
-
Sport15 hours agoMichael Owen Claims Manchester City is the Ideal Fit for Messi’s Premier League Return