• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Dr Theo Acheampong Warns of Likely Return of Suspended GHS 1 Energy Levy Amid Sector Distress

3 months ago
in Business, Economy, Energy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
74
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Dr Acheampong Warns of Likely Return of Suspended GHS 1 Energy Levy Amid Sector Distress

Ghana’s government is likely to reintroduce the suspended GHS 1 energy levy in the coming weeks as mounting fiscal pressure and a deteriorating energy sector compel policymakers to revisit unpopular revenue measures, according to economist and political risk analyst Dr Theo Acheampong.

Speaking on JoyNews on Tuesday, June 24, Dr Acheampong said government officials, including the Finance and Energy Ministers, are “analysing and assessing” the country’s exposure to rising global oil prices, particularly amid heightened geopolitical tensions in the Middle East.

“I won’t be surprised if the GHS 1 levy comes back in the coming weeks,” he remarked, noting that while the earlier iteration of the levy met with significant public resistance, certain constituencies were more receptive, giving the administration some political room for manoeuvre.

Originally introduced to support the financially distressed energy sector, the GHS 1 per litre levy was suspended following backlash from civil society organisations and opposition lawmakers. However, with energy sector arrears widening and pressure mounting on public finances, the levy is now being reconsidered as a stop-gap measure.

Energy Sector Under Duress

Ghana’s energy sector is contending with a mix of structural inefficiencies, rising utility debts, and increasing reliance on imported fuels. Power generation shortfalls and liquidity constraints across state-owned utilities have compounded the challenge, with analysts warning of long-term sustainability risks.

RelatedPosts

Headline Inflation Hits Single-Digit With 9.4% Rate in September 2025

Bank of Ghana Prices 1oz Gold Coin at GHS 49,131.99

Ghana Hosts IGAD Delegation on Land Governance Exchange

“We have serious challenges within Ghana’s energy sector, and we need to do something about it,” Dr  Acheampong said, underscoring the urgency of raising sector-specific revenue.

Geopolitical developments, particularly tensions involving Iran, have added an external layer of vulnerability, exposing Ghana’s fuel-import-dependent energy mix to global oil price volatility.

Accountability Remains a Sticking Point

Dr Acheampong also highlighted persistent concerns around the lack of transparency in the use of past energy levies, especially those collected under the Energy Sector Levies Act (ESLA). Critics have long questioned the effectiveness of such levies, citing weak parliamentary oversight and limited public disclosure.

“There are concerns as to how monies that have been collected in the past have been utilised,” he noted, calling for robust governance frameworks to accompany any reintroduction of the levy.

“Once we have further assurance and safeguards around the one cedi levy and what it will be used for and the Minister accounts to Ghanaians through Parliament, we may begin to see viable solutions emerge for the crisis,” he added.

Tags: distressed energy sectorDr Acheampong Warns of Likely Return of Suspended GHS 1 Energy Levy Amid Sector DistressDr Theo AcheampongGHS 1 Energy Levyrising global oil prices

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

First National Bank Champions Health, Unity, and National Pride With the 2025 Accra Marathon

U.S. Government Shutdown Leaves Energy Markets on Edge

Gold Miners Stage Comeback as Share Sales Surge to Record High

NorvanReports at 5: The Rise of a Fearless Voice in Ghana’s Economic Storytelling

Sylvia Owusu-Ankomah Appointed CEO of The Ghana Chamber of Telecommunications & The Digital Chamber of Ghana

ICUMS Set to Complete Major Upgrade to Enhance System Performance

Trending

Business

Headline Inflation Hits Single-Digit With 9.4% Rate in September 2025

October 1, 2025

Headline Inflation Hits Single-Digit With 9.4% Rate in September 2025 Ghana’s headline inflation rate fell sharply to...

Bank of Ghana Prices 1oz Gold Coin at GHS 49,131.99

October 1, 2025

Ghana Hosts IGAD Delegation on Land Governance Exchange

October 1, 2025

First National Bank Champions Health, Unity, and National Pride With the 2025 Accra Marathon

October 1, 2025

U.S. Government Shutdown Leaves Energy Markets on Edge

October 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.