Ghanaian Government has expressed its optimism towards the Dangote Refinery. The West African country is certain when the refinery begins operation, Nigeria, Ghana, and many other African countries will benefit greatly from the establishment.
The President of Ghana, Nana Akufo-Addo, during a forum in Egypt disclosed Ghana is optimistic about the outcome, and the country has projected a desirable outcome after the completion of the facility in Nigeria.
While discussing the Dangote refinery impact on African economy, he said the facility will bring relief to countries in the continent suffering from sloppy economic situations caused by price instability.
Oil distributors in Ghana on queue
Nairametrics had reported that oil distributors in Ghana and other African countries have pledge patronage of oil importation from the Dangote refinery, stating that arrangement has been made to ease the process.
Similarly, the Ghanaian Government also believes that it would be more profitable for African countries to import petroleum products from Dangote Refinery instead of depending on international supplies which are more expensive and often influenced by factors such as forex.
Revenue hub for Nigeria
Aliko Dangote, the President of Dangote Group, has disclosed that Dangote Petroleum Refinery will create $11 billion per annum market for Nigerian crude. According to Dangote, upon completion, the Dangote Refinery will meet 100 per cent daily Nigerian consumption of all refined products and would also have the surplus for export. The refinery will also boost job employment in Nigeria.
Benefit of Dangote refinery to Nigeria
Meanwhile, the Technical Adviser to the President of Dangote Group on Refinery and Petrochemicals, Babajide Soyode said the prices of petroleum products across the African sub-region will experience stability. Adding that there will be lower cost of business, and the completion of Dangote Refinery and other modular refinery projects in Nigeria would culminate in the integration of the downstream industries
While speaking at the just-concluded 2019 Nigeria International Petroleum Summit in Abuja, Soyode said;
“By the time Dangote completes the largest single train refinery, in addition to what other investors are doing, Nigeria will have more than enough petrol for domestic use and for export,” stressing the need for government to allow the private sector run the downstream industry.
Adding that the value of naira will be boosted when Nigeria start to refine crude oil within the country rather than import offshore. Suggesting there is no need for the Federal Government to continue to subsidise petrol.