Ghana is exploring a potential fuel supply agreement with Nigeria’s Dangote Refinery amid global shortages and rising fuel prices. According to President John Dramani Mahama, the move aims to stabilize fuel supply and reduce pressure on consumers.
The Dangote Refinery, one of Africa’s largest, has a production capacity of 650,000 barrels per day. Ghana’s National Petroleum Authority has assured that the country has sufficient petroleum product stocks to meet national demand, despite global supply concerns linked to Middle East tensions.
President Mahama emphasized that Ghana has gained resilience by increasing its reliance on domestically produced gas instead of imported liquid fuels. The country is also pursuing investments in the energy sector, including a $2 billion agreement to drill new wells and boost gas output.
According to the Ghanaian leader, the arrangement with Dangote Refinery could offer more stable and possibly cheaper fuel. The government is comparing prices on the international market to ensure the best deal for consumers.
The potential deal comes as Ghana faces rising fuel prices, driven by global oil market trends and geopolitical tensions. The country is looking to reduce its reliance on European fuel imports, which currently cost an estimated $400 million monthly.
Source: #CTVNews
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Author: Stella Sunu
