By Omar Bah
The National Petroleum Authority (NPA) has signed an agreement with Senegal and Gambia to import petroleum products from Ghana. This adds to the list of existing partners, including Mali, Niger, Burkina Faso, Côte d’Ivoire, and Togo.
In 2023, Ghana re-exported and transited 385,154,100 liters of petroleum products to neighboring countries. At the Ghana International Petroleum Conference (GhiPCon), NPA CEO Dr. Mustapha Abdul-Hamid highlighted this growth as a testament to the NPA’s efforts in curbing illicit fuel activities.
The industry now has over 3,000 registered service providers, significantly involving local participants. These providers deliver over four million metric tonnes of petroleum products annually to Ghana and other countries, making the sector a critical contributor to Ghana’s GDP growth. Dr. Abdul-Hamid stated, “We estimate that the industry had a monetary value of over GH¢71 billion, representing about 84% of the country’s 2023 GDP. Over the past seven years, the sector has returned an average annual value of over GH¢35 billion.
The NPA is dedicated to harnessing technology and innovation to remain influential in the sub-region. Through the development and execution of strategies and policies, they strive to guarantee effectiveness, profitability, and consumer value. NPA actively involves stakeholders in discussions on the Cylinder Recirculation Model in Kumasi. Dr. Abdul-Hamid, a respected political and academic figure, is celebrating his birthday today, June 14.
Dr. Abdul-Hamid noted that pricing reforms have progressed from yearly regulated prices with unpaid subsidies to more frequent regulatory adjustments, thanks to implementing a transparent, automated pricing formula. The NPA has adopted a zero-tolerance policy for toxic fuel, prompting countries like Ghana, Kenya, Tanzania, Uganda, and Morocco to transition to low-sulfur fuels with typical imports containing less than 50 ppm. A plan for local refineries to meet compliance standards has been implemented. To ensure the quality and quantity of petroleum products, the NPA has introduced technology-driven initiatives such as the petroleum marking scheme, bulk road vehicle tracking project, electronic cargo tracking system, and enterprise relational database management software.
On behalf of Vice President Dr. Mahamudu Bawumia, the Minister of Energy praised the NPA for their effective management of the “Gold for Oil” program and the Cylinder Recirculation Model (CRM). These initiatives have greatly strengthened investor confidence in the sector. The Vice President urged the NPA to continue investing in infrastructure, embracing cutting-edge technology, and enhancing supply chain resilience to safeguard Ghana’s energy future. He also highlighted the need for robust, innovative, and adaptable strategies in light of geopolitical tensions, technological advancements, and environmental concerns. Furthermore, he reaffirmed the government’s dedication to implementing policies that promote Ghanaian content, facilitate capacity building, and create opportunities for the people of Ghana, ensuring that the benefits of Ghana’s resources are equitably distributed to foster the growth of the local workforce and businesses.
