Abolish premixed fuel subsidy – ACEP

The Africa Centre for Energy Policy (ACEP) has called on the government to abolish the premixed fuel subsidy policy due to inefficiencies, corruption, and mounting debts.

ACEP proposed direct financial support to fisherfolk and the exploration of sustainable alternatives like solar-powered fishing boats. Data showed irregularities in premixed fuel consumption, suggesting smuggling and reduced supply to genuine users.

ACEP also highlighted hidden margins and unjustified levies in the petroleum sector, with over GH₵7.6 billion in margins imposed without parliamentary approval.

Recommendations included converting levies like the Bulk Oil Storage and Transportation (BOST) margin into tax revenues to fund infrastructure and social programs.

ACEP advocated for BOST’s commercialization and improved energy sector debt management to enhance transparency and reduce consumer burdens.