The Acting Chief Executive Officer of the National Petroleum Authority (NPA), Edudzi Tamakloe, assumes office at a critical time marked by looming threats of fuel shortages.
Ensuring nationwide fuel availability is a top priority for him, as fuel costs significantly impact businesses and the broader economy.
The NPA has introduced measures to address logistical challenges that have disrupted petrol supply, particularly in the Northern regions.
These measures include granting Oil Marketing Companies (OMCs) special permission to load petrol from the Bulk Energy Storage and Transportation Company (BOST) depot in Kumasi to supply the five northern regions.
Meanwhile, the rising cost of fuel, with petrol and diesel prices nearing GH¢16 per litre, poses another challenge as public and business concerns over affordability continue to grow.
It remains uncertain whether the acting NPA boss will work with the government to implement measures such as suspending certain petroleum product margins, a tactic previously used to mitigate price hikes.
Industry stakeholders, including the Africa Centre for Energy Policy (ACEP), have raised concerns over levies and margins imposed on petroleum products.
Kodzo Yaotse, Policy Lead for Petroleum and Conventional Energy at ACEP has criticised some of these margins as detrimental to consumers.
“We don’t want NPA to be receiving any margins. We are asking that those margins be converted to tax handles within the control of the government so that those revenues accrue to the government for development purposes. NPA is already paid to do its work. Implicit in the cost of the product, there’s money for it to do its work,” he stated.
He further emphasised: “So we don’t want NPA to be in the business of collecting money for transportation or for any other purpose related to the product. No, it should focus on ensuring that there is enough product in the country and that the quality of the product can be guaranteed.”
Another key issue for the acting NPA boss is the 2024 Petroleum Products Pricing Guidelines.
These guidelines set a price floor below which OMCs cannot sell their products – a policy that has drawn criticism from energy sector think tanks.
The Chamber of Petroleum Consumers has suggested introducing a price ceiling alongside the price floor to balance market deregulation with consumer protection.
As Edudzi Tamakloe steps into his role, the path forward will demand bold decisions to stabilise supply, address pricing concerns and build confidence in Ghana’s petroleum sector.
