Ghana Has Over Two Months’ Fuel Reserves – NPA CEO Assures
Acting Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, has assured the public that Ghana has sufficient fuel reserves to meet national demand for more than two months, despite mounting global geopolitical uncertainties.
Speaking during a sectoral engagement with the Parliamentary Select Committee on Energy at Senchi on Saturday, Mr. Tameklo disclosed that the country currently holds over 200 million litres of petrol and 150 million litres of diesel in strategic reserve.
“I can assure the good people of Ghana that we have enough stock to last us beyond two months, and with all the ongoing efforts, we are confident that there will be no supply disruptions,” Mr. Tameklo said.
He further revealed that petroleum vessels had already berthed in Ghanaian waters, while the Dangote Refinery in Nigeria is producing significant volumes of refined fuel products—an additional source expected to cushion Ghana’s domestic supply.
The Energy Committee, led by Chairperson Emmanuel Kwasi Bedzrah, is conducting a nationwide tour to assess the operational readiness and challenges of institutions in the energy sector.
Fuel Levy and Geopolitical Concerns
On the controversial GH₵1 fuel levy, Mr. Tameklo explained that government is adopting a cautious approach, closely monitoring the impact of the Israel-Iran conflict, particularly concerning tensions in the Strait of Hormuz, a key international shipping route.
“At this stage, there is no significant disruption in the Strait of Hormuz. We are confident that if conditions remain stable, the government will communicate a decision on the levy’s implementation soon,” he noted.
The planned implementation date of June 16, 2025, was postponed to allow for further consultations with key stakeholders, including the Chamber of Bulk Oil Distributors and following a last-minute directive from the Minister of Finance.
Mr. Tameklo emphasised that engagements with the Chamber of Oil Marketing Companies are ongoing to ensure transparency and consensus ahead of the levy’s rollout.
On ESLA and Policy Alternatives
Reacting to calls from the Minority in Parliament for the repeal of the Energy Sector Levies Act (ESLA), the NPA boss criticised the opposition’s position, noting the absence of a credible funding alternative for critical fuel imports.
“We still need liquid fuel to keep our lights on. If the Minority has a workable alternative, I believe President John Dramani Mahama, a listening president, would consider it,” Mr. Tameklo stated.
He added that the government remains committed to ensuring energy sector stability, highlighting recent gains such as a GH₵4 reduction in petroleum pump prices, driven by exchange rate interventions and improved forex availability.
Global Outlook and Domestic Resilience
On the broader geopolitical landscape, Mr. Tameklo said while tensions between Israel and Iran remain a concern, diplomatic efforts by global powers offer a pathway toward de-escalation.
“It’s early days yet, but the major powers involved in global diplomacy are engaging the key actors. There is optimism that negotiations will prevail,” he said.
Mr. Tameklo concluded by reaffirming the NPA’s commitment to ensuring fuel security, stabilising prices, and safeguarding power supply across households and industries, as government continues to monitor and respond to global energy developments.
