President Mahama considers Dangote refinery deal to secure fuel supply amid rising prices

President John Dramani Mahama has disclosed that Ghana is exploring a potential partnership with Nigeria’s Dangote Refinery to secure a steady supply of fuel, as global shortages continue to push prices upward.

Speaking at a Presidential Dialogue with Civil Society Organisations (CSOs) at Jubilee House on March 30, 2026, the President said government is taking steps to cushion citizens from the impact of rising fuel costs, largely driven by ongoing disruptions linked to the Middle East conflict.

He indicated that measures under consideration include reviewing fuel pricing margins and utilising the recently introduced one-cedi fuel development levy to ease the burden on consumers.

President Mahama expressed hope that global tensions would ease soon, leading to more stable petroleum prices. However, he noted that the current situation remains a concern, as rising fuel costs directly affect transportation and contribute to inflation.

He also highlighted progress at the Tema Oil Refinery (TOR), which is gradually resuming crude oil processing, a development he believes will help stabilise domestic fuel supply and reduce reliance on external markets.

In addition, the President said government is considering entering into a Memorandum of Understanding with Dangote Refinery to import finished petroleum products, leveraging competitive international pricing.

The move comes amid increasing concerns over global fuel supply constraints, which have resulted in higher pump prices and rising costs for businesses and households.

While details of any potential agreement are yet to be finalised, government says it is exploring all available options to ensure reliable fuel supply and protect the economy from market volatility.