Mustapha Abdul-Hamid, the chairman of Ghana’s National Petroleum Authority, has disclosed plans to start importation of petroleum merchandise from Nigeria’s Dangote Oil Refinery as soon as it reaches full operational capability.
Mr Abdul-Hamid made the disclosure through the OTL Africa Downstream Oil Conference in Lagos, saying that the transfer would reduce the nation’s $400 million month-to-month gas imports from Europe.
According to him, the transfer may sign a major price discount for Ghana and reinforce regional commerce in Africa.
He identified that sourcing gas from Nigeria would probably lower Ghana’s bills by decreasing freight prices.
Mr Abdul-Hamid additionally famous {that a} future shared African foreign money would possibly additional diminish reliance on the U.S. greenback for such transactions, easing foreign money trade pressures throughout African markets.
“If the refinery reaches 650,000 bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices,” Mr Abdul-Hamid defined.
Recall that Dangote Refinery started supplying Premium Motor Spirit, generally generally known as petrol, to the Nigerian market on September 15, 2024.
The refinery is anticipated to method full capability by the tip of this 12 months and to be absolutely operational by early 2025.
