Oil Refining In Nigeria Vs Ghana: A Tale Of Two Private Sector Oil Refineries

While Nigerians are forcing their government to give waivers and sell their souls to the biggest businessman in Nigeria from discounts on crude oil to forcing all dealers to buy diesel from him alone, we in Ghana are enjoying our own private refinery which is the pride of Africa and did not take 11years to complete!!! Our national refinery Tema Refinery had issues and private sector took it upon themselves to build their own. They are not even depending on Ghanian crude oil but choose to use a blend of other crude oil from places like russia and other countries in Africa so they can maximise profits just like Dangote refinery.

Let me tell you more about our Sentuo Oil Refinery built in Ghana by private sector and financed by AFREXIM, Ecobank and the Chinese so you Nigerians can open your eyes. If it can be done here, I don’t know why your private sector people who are bigger than ours, can’t do it without owning everything.

The sentuo refinery is the real pride of Africa and was project managed by a Nigerian company with vast experience. Just imagine. The refinery is already running at 95% capacity unlike dangote which has only done tape commissioning by your former president but Dangote refinery is still at 48% technical commissioning and final licensing. Our country Ghana, is proudly the first West African nation to achieve petroleum products independence, and our government did not have to sell its soul or our commonwealth to achieve this. There is no monopoly here in Ghana and there is NO tax waiver or protective policy to destroy free trade. Plus our Ghanian government prioritised our own Jubilee crude oil for exports while our refineries Tema and Sentuo import crude from other countries including Nigeria and Russia. Talk about business sense! At this rate, our country will achieve energy security before nigeria. This nor be jollof war 🤣

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FACTS ABOUT SENTUO OIL REFINERY

1. The 120,000bpd Sentuo Oil Refinery is located in the Tema Industrial Zone in Ghana, West Africa.

2. It is owned by Sentuo Oil Refinery Ltd. (SORL), a private company with support from the chinese and Afrexim and exobank. A nigerian company managed the project.

3. Built in 5years from start of construction at a cost of $2billion – same cost your country paid for 20% of a 600000bpd refinery. Sentuo Phase 1 was Completed in October 2022 and Phase 2 Completed in January 2024

4. The Sentuo refinery has a capacity of 200,000 barrels per day (bpd), making it the largest and most advanced facility in West Africa. Nigeria’s Dangote refinery is still in technical commissioning, testing and licensing phase as at July 2024 though it produces AGO and Jet Fuel.

5. Sentuo refinery currently meets Ghana’s 80,000 bpd local consumption and exports surplus to neighboring countries
6. Sentuo refinery produces various petroleum products, including High-quality finished PMS, Aviation kerosene (Jet Fuel), Diesel (AGO), Asphalt, Lubricating base oil
Polypropylene, sulfate, sulfur, and other refined white products

Nigerians should wake up. You like to think you are special but it’s so easy for people with money to deceive you lot. Refining business is not by PR.

By Kodjo A.