{"id":241106,"date":"2024-10-29T04:35:59","date_gmt":"2024-10-29T04:35:59","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/29\/government-eyes-fuel-imports-from-dangote-oil-refinery\/"},"modified":"2024-10-29T04:35:59","modified_gmt":"2024-10-29T04:35:59","slug":"government-eyes-fuel-imports-from-dangote-oil-refinery","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/29\/government-eyes-fuel-imports-from-dangote-oil-refinery\/","title":{"rendered":"Government eyes fuel imports from Dangote oil refinery"},"content":{"rendered":"<br><p>CEO of the National Petroleum Authority, Dr. Mustapha Abdul-Hamid<\/p><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">Government could buy petroleum products from Nigeria&#8217;s Dangote Oil Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country&#8217;s oil regulator said on Monday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This could end monthly fuel imports from Europe of $400 million, Dr Mustapha Abdul-Hamid, chairman of the National Petroleum Authority (NPA) said at the OTL Africa Downstream oil conference in Lagos.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;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,&#8221; Dr Hamid said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Dangote Oil refinery built by Nigerian billionaire Aliko Dangote is expected to operate at\u00a0near\u00a0full capacity at the end of the year and analysts believe it could be fully operational in the first quarter of 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hamid said importing from Nigeria rather than Europe would bring down the prices of other goods and services by removing freight costs. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eventually, he said African countries would agree on a common currency that should dampen demand for dollars. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ghana&#8217;s economy, which\u00a0grew by 6.9%\u00a0year-on-year in the second quarter of 2024, has been driven largely by a strong expansion of the extractive sector which has boosted demand for fuel.<\/p>\n\n\n\n\n\n\n\n\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>CEO of the National Petroleum Authority, Dr. Mustapha Abdul-Hamid Government could buy petroleum products from Nigeria&#8217;s Dangote Oil Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country&#8217;s oil regulator said on Monday. This could end monthly fuel imports from Europe of $400 million, Dr [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":241107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-241106","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government eyes fuel imports from Dangote oil refinery - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/29\/government-eyes-fuel-imports-from-dangote-oil-refinery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government eyes fuel imports from Dangote oil refinery - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"CEO of the National Petroleum Authority, Dr. Mustapha Abdul-Hamid Government could buy petroleum products from Nigeria&#8217;s Dangote Oil Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country&#8217;s oil regulator said on Monday. 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