Ghana’s National Petroleum Authority said it has plans to start importation of products from the Dangote Refinery in the nearest future to save the country $400 million monthly fuel imports from Europe.
NPA chairman Mustapha Abdul-Hamid, disclosed importation of petroleum products from the Dangote Oil Refinery would begin once it reaches full operational capacity.
“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 explained.
Mr 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.
The refinery is expected to approach full capacity by the end of this year and to be fully operational by early 2025.
