Chairman of Ghana’s National Petroleum Authority, Mustapha Abdul-Hamid on Tuesday during the OTL Africa Downstream Oil Conference in Lagos disclosed that Ghana may shift to purchasing petroleum products from Nigeria’s Dangote Oil Refinery once it reaches full operational capacity, potentially cutting its $400 million monthly fuel imports from Europe.
This decision could result in significant savings for Ghana and enhance regional trade throughout Africa.
Abdul-Hamid also noted that a future shared African currency might further diminish reliance on the U.S. dollar for such transactions, easing currency exchange pressures across African markets.
According to Abdul-Hamid, Ghana is seeking an agreement with Dangote Refinery, and reducing its reliance on more costly imports from Rotterdam.
He said that Ghana had also expanded its export agreements to include Burkina Faso, Mali, and Niger, supplying international operational facilities, including U.S. military bases.
“The Dangote Refinery, with its large-scale output, is expected to meet Nigeria’s domestic demand, enabling excess production to be exported to Ghana,” he said.
