According to Dr. Mustapha Abdul-Hamid, Chief Executive Officer of Ghana’s National Petroleum Authority (NPA), the start-up of the 650,000 bpd Dangote Refinery will significantly lower the cost of importing petroleum products into the West African nation, which will transform the downstream oil industry in Ghana.
It will advocate for biofuels and cleaner fossil fuels as a means of achieving a just energy transition.
In his remarks, Mr. Gabriel Aduda, Nigeria’s Permanent Secretary, Ministry of Petroleum Resources, noted that full deregulation will also foster healthy competition among investors and promote transparency in the downstream petroleum business.
Deregulation, in his opinion, would substantially lessen, if not totally eliminate, the diversion and smuggling of petroleum products over Nigerian borders. Additionally, it will boost employment prospects, expand investment options, and support a smooth energy transition.