Dangote Refinery Boosts West Africa's Fuel Market
West Africa is working to strengthen its capabilities in setting fuel prices and trading petroleum derivatives, with a focus on establishing an independent regional center based on a local price index, led by the Dangote refinery in Nigeria, with a capacity of 650,000 barrels per day starting from 2024. The goal is to transform the continent from a recipient of global prices to a determining entity, with progress in regional coordination, though challenges related to infrastructure and transparency remain, requiring investments in pipelines and digital systems.
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