Edudzi Tameklo hints at amending 20-year-old NPA Act to meet market demands
NPA CEO Godwin Edudzi Tameklo has announced plans to overhaul the 20-year-old NPA Act 691 to modernize petroleum downstream sector regulation and UPPF pricing.
Edudzi Tameklo, CEO of the National Petroleum Authority (NPA), has disclosed plans to revise the 20-year-old NPA Act to better regulate Ghana's petroleum downstream sector. During a recent visit by the Public Accounts Committee, Tameklo stated that a new bill to amend the existing legal framework will be presented to Parliament soon.
The current law, Act 691, which includes LI 632 and 65, no longer meets the market's needs and requires significant changes to address contemporary circumstances. Tameklo emphasized that the law's age and the evolving market necessitate a complete overhaul. He highlighted the need to adjust the Unified Petroleum Price Fund (UPPF) to ensure uniform petroleum pricing across the country, preventing economic disparities, particularly in poverty-stricken northern regions.
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