President John Dramani Mahama has revealed that Ghana is considering engaging with Nigeria’s Dangote Refinery to secure fuel supplies, as global shortages continue to drive up prices.

Speaking during a Presidential Dialogue with Civil Society Organisations (CSOs) at Jubilee House on March 30, 2026, President Mahama said the government remains ready to cushion Ghanaians from the shocks associated with rising fuel costs amid ongoing disruptions caused by the Middle East conflict.

“Some of the measures we have include reviewing margins to cushion consumers and using the recently imposed 1 cedi fuel development levy,” he said.

Dangote refinery cuts petrol gantry price

“My hope is that sooner rather than later, this war will end and Ghanaians will see more stable petroleum prices. For now, the government remains concerned because fuel prices affect the transport sector which then drives up inflation,” he added.

President Mahama also noted that the Tema Oil Refinery (TOR) is gradually resuming crude oil processing, which he believes will help stabilise Ghana’s fuel supply and reduce the impact of rising global oil costs on the local economy.

He further said the government could consider entering a Memorandum of Understanding (MoU) with Dangote Refinery to import finished petroleum products.

“Even though prices have increased, we have the opportunity to compare prices on the international market. If it means entering into an agreement with Dangote Refinery to bring finished products from Nigeria to Ghana, I think we should be able to do that,” he said.

The announcement comes amid growing concerns over international fuel supply constraints, which have contributed to higher prices at the pump and increased costs for businesses and consumers in Ghana.

Although details of the proposed deal, including volumes and timelines, have not been disclosed, government said it is exploring all options to ensure steady fuel availability and protect Ghanaians from market volatility.

MA