Why Government doesn’t control most fuel stocks – NPA boss explains
The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has explained why government does not directly control most of Ghana’s fuel stocks.
Godwin Edudzi Tamakloe, the CEO of the National Petroleum Authority (NPA) in Ghana, recently addressed why the government does not directly control most of the country's fuel stocks. He explained that Ghana's downstream petroleum industry was deliberately designed around private-sector participation. This design, enshrined in the Petroleum (Amendment) Act 691, aims to foster more private sector involvement in the downstream petroleum sector.
Despite concerns over fuel security, Tamakloe assured that Ghana currently has adequate fuel reserves, with at least six weeks' worth of supply. Additionally, the number of petroleum vessels currently at sea provides another supply buffer. The NPA boss was more concerned about the impact of rising prices rather than the availability of fuel.
He noted that Ghana's downstream petroleum architecture is structured to encourage private-sector participation, with Bulk Distribution Companies and Oil Marketing Companies playing significant roles. While he acknowledged concerns about private companies potentially exerting pressure on the state during supply stress, he emphasized that safeguards have been put in place to prevent such issues from repeating past challenges.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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