We are ready for the turbulence – NPA boss on Ghana’s fuel crisis

Godwin Edudzi Tamakloe, CEO of the National Petroleum Authority (NPA) in Ghana, has stated that his agency is prepared to handle the volatility in Ghana's downstream petroleum sector as international market pressures continue to push up fuel prices. This comes at a time when the country's fuel market is experiencing renewed pressure due to higher prices for crude and refined petroleum products on the global market.

The NPA raised the price floor for petrol to GH¢16 per litre and diesel to GH¢16.77 per litre starting September 16. Some oil marketing companies have already increased their pump prices, with Star Oil setting petrol at GH¢16.77 and diesel at GH¢17.77 per litre per litre.

Speaking on Joy News' PM Express Business Edition, Tamakloe revealed that he has always been prepared for potential disruptions in the petroleum market, given the country's heavy reliance on imports for refined petroleum products. He emphasized that this import dependency makes the industry vulnerable to external shocks and fluctuations in global market conditions.

"Having to be the Chief Executive Officer of the downstream, I appreciated the fact that we are primarily import-dependent when it comes to refined petroleum products," he said.

Managing such pressures has been part of Tamakloe's approach since taking charge of the sector. He noted that effective leadership requires a response, whether the conditions are favorable or challenging. "What I believe is that leadership in this particular instance, there are issues, and we believe that in good or bad times, you need to have a leadership response to both sides," he added.

Since February, the NPA has been grappling with the current turbulence in the fuel market. Tamakloe acknowledged the pressure faced by the sector but expressed satisfaction with the overall response so far. "The management so far has not been bad at all," he concluded.