The Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe Esq., has reassured Oil Marketing Companies (OMCs) of the government’s commitment to ensuring the stability of the downstream petroleum sector as it implements the Energy Sector Levy on June 16, 2025.
This comes after Parliament passed the Energy Sector Levy (Amendment) Bill, 2025, which introduces a GHC 1 increase in the price of petroleum products. The levy was initially scheduled to take effect on Monday, June 9, 2025, but faced resistance from the Chamber of Oil Marketing Companies due to operational challenges.
Speaking at the ongoing Safety Week organized by the Chamber in Accra, Mr. Tamakloe acknowledged the sector’s concerns and emphasized that the NDC-led government will prioritize the sustainability of the petroleum downstream industry.
“We need the money, but we cannot jeopardize the downstream petroleum sector. The John Mahama led government will continue to engage sector players for a smooth implementation” he Said.
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According to the Godwin Edudzi Tamakloe, leadership of the oil marketing Companies showed have demonstrated much commitment despite intensed backlash by section of the public.
The minority in Parliament have threatened to stage a nationwide sensitization exercise against the implementation of the Levy.
The amended Levy is expected to generate an additional 5.7 billion Ghana cedis in revenue to help reduce energy sector debts and support Power supply.
The Energy Sector Levy is part of broader fiscal measures aimed at addressing revenue shortfalls and financing energy sector debts, but industry players warn that implementation must be balanced to avoid disrupting supply chains and investor confidence.
Mr. Tamakloe also disclosed that the government is in the process of reviewing the NPA Act, nearly two decades after its initial implementation, to align it with current industry realities and regulatory needs.
Source: Ghana/Starrfm.com.gh/Prince Essien Ofori
