Energy Security: Ghana To Import Petroleum From Dangote Refinery

The National Petroleum Authority of Ghana (NPAG) announced plans to begin importing refined petroleum products from Nigeria’s Dangote Refinery to strengthen Ghana’s energy security and foster regional cooperation. 

NPAG’s CEO, Dr. Mustapha Abdul-Hamid, shared this update at the 2024 OTL Africa Downstream Energy Week in Lagos, emphasizing that the agreement would allow Ghana to reduce dependency on more expensive European imports. 

He also highlighted Ghana’s expansion of export agreements to countries like Burkina Faso, Mali, and Niger, underscoring the importance of unified regional infrastructure and a shared currency to combat the high costs of petroleum imports due to reliance on the U.S. dollar. 

Abdul-Hamid advocated for a model similar to the European Union’s euro, which could stabilize currencies across West Africa and reduce FX volatility.