Chief Executive Officer of the National Petroleum Authority (NPA), Dr. Mustapha Abdul Hamid, has said Ghana may soon source petroleum products from Nigeria’s Dangote Oil Refinery.
He explained that Ghana will import from Nigeria if the refinery has the capacity to produce 650,000 barrels per day (bpd).
Speaking at the OTL Africa Downstream Oil Conference in Lagos, Dr. Hamid said the move will bring down the prices of petroleum products in Ghana.
He noted that Ghana currently spends about $400 million monthly on fuel imports from Europe.
"If the refinery reaches 650,000 bpd 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," he said.
The Dangote Oil Refinery, built by Nigerian billionaire Aliko Dangote, is expected to be fully operational in the first quarter of 2025.
Dangote Oil Refinery is a 650,000 barrels per day (BPD) integrated refinery project under construction in the Lekki Free Zone near Lagos, Nigeria.
The pipeline infrastructure at the Dangote Petroleum Refinery is the largest in the world, with 1,100 kilometers to handle 3 billion standard cubic feet of gas per day.
The refinery has a 435MW power plant that is able to meet the total power requirement of Ibadan DisCo.
Credit: GhanaWeb.com