GH¢1 Fuel levy risks undermining economic gains – GNCCI

Businesses are concerned about the timing of the new GH¢1 per litre levy on fuel. They warn it could harm recent consumer relief and economic confidence.

Mark Badu-Aboagye, CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), expressed these concerns. He stated that the government has not given enough time before adding costs at the pump.

After launching the 5th Chamber Business Awards, he acknowledged the levy’s purpose. It aims to support energy sector debt reduction. However, he criticized its timing and high rate.

Badu-Aboagye noted that an 8% increase is significant. Consumers have only recently enjoyed lower fuel prices, just a month ago. Given their financial strain, a grace period should have been considered.

GNCCI President Stephen Miezen emphasized private sector collaboration with the government. He said this partnership can drive sustainable growth and reduce imports while expanding local production. Effective collaboration requires mutual respect and strategic engagement.

Prince Ackuaku, Chairman of the Awards Planning Committee, highlighted the awards event on November 8. This event will recognize businesses that innovate during tough times and contribute to national development goals.

The theme for this year’s awards is “Revitalising Ghana’s Development Agenda Through Strategic Public-Private Collaboration.” The aim is to elevate business roles in Ghana's recovery strategy while holding government policies accountable to private sector pressures.

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