The Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Dr. Riverson Oppong, has strongly criticized the government’s proposal to impose a new GHC1 per litre levy on petroleum products, describing it as “unexplainable, unacceptable and unsustainable.”
This follows the passage of the Energy Sector Levies (Amendment) Bill, 2025, under a certificate of urgency, Dr. Oppong expressed deep concern over the potential implications for the petroleum sector and consumers alike.
“This is shocking news to us at the chamber. Oil marketing companies are not happy. The assumption behind this GH₵1 levy is totally wrong. It’s not economic, it’s not sustainable, and it’s unacceptable,” he stated.
Dr. Oppong questioned the economic rationale behind the levy, particularly the claim by Majority Leader Mahama Ayariga that the public should support the tax as a patriotic contribution to resolving the country’s energy debt crisis.
“If you multiply that GH₵1 by the volumes of litres sold, it’s huge. This will not only impact consumers but will also destabilize the entire sector. I am personally shocked,” he said.
He also lamented the lack of adequate stakeholder engagement before the bill was brought to Parliament by Finance Minister Dr. Cassiel Ato Forson. “I don’t know what kind of consultation was done. It seems rushed and out of touch with the realities of the market,” Dr. Oppong noted.
Already burdened by a slew of levies, oil marketing companies had hoped the government would work to reduce the cost of fuel rather than add more taxes. “We were thinking the government would remove or at least reduce some existing levies. Instead, it is adding another. What happens to the Energy Sector Debt Recovery Levy and other stability-related charges? Are we just compounding the burden?” he asked.
The Energy Sector Levies (Amendment) Bill was passed yesterday even though the minority MPs walked out is expected to generate significant revenue to help clear an estimated US$3.1 billion energy sector debt.
However, industry players like COMAC are warning that such a move could have broader economic consequences, especially if consumer prices at the pumps are affected.
While Finance Minister Dr. Forson has assured Parliament that the strong performance of the Ghana Cedi will cushion consumers from any immediate price hikes, industry leaders remain skeptical.
“This levy needs to be re-examined thoroughly,” Dr. Oppong concluded. “You don’t solve a structural problem by imposing yet another burden on an already strained sector and economy.
Source: Ghana/Starrfm.com.gh/Prince Essien Ofori
