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.
It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.
It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.
This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.
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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.
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