Kofi Bentil, Senior Vice President of IMANI Africa has said Ghana is not thinking strategically as the country continue to rely on imported finished petroleum products.
According to Kofi Bentil, Ghana has two refineries and has more than 30% increased crude availability but choose to buy finished products.
Speaking on TV3 KeyPoints, Kofi Bentil stated, “If you sit in a country which has two refineries and has more than 30% increased crude availability and you choose to buy finished products, you are not thinking strategically,”
“Why do you keep buying finished products when you can do it here?” he asked.
He highlighted that good governance and strategic thinking remain central to reducing pressure on consumers.
His comments comes on the heels of President John Dramani Mahama who had ordered the Finance and Energy ministries to take urgent measures to cushion Ghanaians from the impact of rising fuel prices, linked to tensions involving Iran, Israel, and the United States.
On Thursday, April 9, following an emergency Cabinet meeting after President John Mahama’s return from an official trip to France, the decision was made.
In a post shared on X, Minister of State in charge of Government Communications, Felix Kwakye Ofosu wrote, “OUTCOMES of EMERGENCY Cabinet Session on fuel price.
1. Ministers of Finance and Energy directed by the Cabinet to ensure a reduction in fuel price in the next pricing window through the SUSPENSION of some taxes and margins( said taxes and margins to be announced at the next pricing window).
This is to last for four weeks and is subject to review based on the evolving situation in the Middle East conflict and movements in crude oil prices.
2. Minister for Transport directed to ensure expedited deployment of recently acquired 100 Metro Mass Transit Buses in addition to existing ones on high-traffic corridors and ensure maintenance of LOWER TRANSPORT FARES on those buses than what private operators charge.
3. ALL MINISTERS and SENIOR GOVERNMENT APPOINTEES to adhere STRICTLY to the President’s directive on cancellation of fuel allocations and allowance”.
Also, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has said some fuel taxes are not only a nuisance but have outlived their sunset.
Duncan Amoah welcomed the government’s decision to scrap some taxes on petroleum products, adding that the decision is timely and necessary and will cushion consumers.
According to Duncan Amoah, the Chamber is ready to engage with the relevant ministries to ensure that any policy decisions deliver meaningful relief to consumers.
Speaking in an interview with Citi News, Duncan Amoah explained, “Effective immediately, we would begin whatever discussions with the two ministries concerned to give our perspectives, particularly on some of the taxes that we believe have not only become a nuisance but have clearly outlived even their sunset uses.
“I believe that these tax conversations should not only be because of the Iranian-American-Israeli conflict situation that has seen fuel prices inch up to the levels they are.
“But it is something that clearly ought to have been done long ago. But we are happy nonetheless that Mr President has given these directives that the ministries concerned should discuss and see how best they can rationalise some of the taxes and take out some of the taxes also to give some ease to the Ghanaian consumer.”