Shame: How Nigeria began fuel importation from Ghana

The Federal government was today shamed as Ghana started exporting fuel and gas oil to Nigeria.

The export is run by Ghana’s Bulk oil Storage and Transport (BOST) Company Limited.

Ghana’s Minister of Petroleum, Mr. Kofi Buah, made this known adding that there were plans to extend the exports to Liberia in the coming months.

The minister said Ghana’s vision is to make the nation a distribution hub for petroleum products throughout West Africa.

The Bolgatanga Petroleum Depot, with a capacity of 46 million liters of refined gasoline and gas oil, was re-inaugurated in August 2015.

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Buah said Ghana had been ushered into a new gas era that would guarantee its energy security for the next two decades.

“Despite the global downturn in the oil industry, we have managed to increase production.

“Ghanaians have been empowered to be at the forefront of the industry.

“With a liberalized petroleum downstream sector and a strong private sector participation, Ghana is poised to become the preferred destination for doing business in the sub-region.

“In the long term, a 290-km onshore pipeline to ensure gas supply reliability and downstream infrastructure expandability is planned.

“Additional volumes will provide the opportunity for Ghana to realize its vision to utilize gas for the other industrial uses, beyond power generation, such as fertilizer and petrochemicals.

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“Our restructuring has resulted in a turnaround in the performance of this strategic national asset.

“This asset is now successfully fulfilling its mandate of ensuring the availability of petroleum products,” he said.

Buah said Ghana’s strategic stock was at an all-time high, with about one million metric tons of petroleum products imported from January to June 2016.

He said the feat was chalked up following the restructuring of BOST, which had been successful in ensuring the availability of petroleum products in the country.