Stakeholders seek options for maximising AfCFTA
With a growing population, huge energy demand and projected industrial and agricultural boom, cross-border infrastructural deficits, funding gaps, smuggling, and lack of harmonized taxes are critical bottlenecks limiting the growth of Africa’s downstream petroleum, stakeholders have said. x
Except the price differential challenge is addressed, energy experts have insisted that the gains of the African Continental Free Trade Area (AfCFTA) in the downstream sector of the continent’s petroleum industry may remain a mirage.
The experts, who gathered at the Ghana International Petroleum Conference stressed that challenges bedeviling local capacity and distribution of petroleum products across the continent may mar the gains of AfCFTA.
NPA Boss advocates for harmonised fuel prices for Africa
The Chief Executive Officer of the National Petroleum Authority (NPA), Alhassan Tampuli Sulemana has advocated for harmonisation of the pricing structure of petroleum products on the African continent.
According to him, such harmonisation would take away variations in the pump prices between neighbouring countries, which he added encourages smuggling.
Mr Tampuli gave a welcome address at the 2021 edition of the Ghana International Petroleum Conference (GHIPCON) held on Tuesday and Wednesday this week.
The 2-day conference was under the theme: “Positioning Africa’s Petroleum Downstream for the African Continental free Trade Area (AfCFTA).”
The Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene says it is about time Africa moved from being a net importer of refined petroleum products to become a net exporter.
The Chief Executive Officer of the National Petroleum Authority (NPA), Hassan Tampuli, has revealed that Africa rsquo;s petroleum downstream sector suffers an acute infrastructure deficit.