The National Petroleum Authority (NPA) has assured consumers that Ghana has enough petroleum products to meet domestic demand for at least the next six weeks, dismissing concerns about an imminent fuel shortage.
NPA Chief Executive Officer, Godwin Edudzi Tamakloe, said existing fuel stocks, together with petroleum cargoes currently being transported to Ghana, provide sufficient cover against possible supply disruptions.
“Currently, we have not less than six weeks of cover. Not less,” he said in an interview on Accra-based Joy FM on Thursday, September 17.
Mr Tamakloe said the number of vessels carrying petroleum products to Ghana and currently on the high seas further strengthened the country’s supply outlook.
“And if you look at the number of vessels even on the high seas, it is significant. So at this point, yes, I have some supply,” he said.
Asked whether Ghana could face supply challenges in the coming weeks, the NPA CEO said his immediate concern was not availability but the potential impact of international market developments on fuel prices.
“No, my major concern now is price,” he said.
He further ruled out the possibility of a fuel supply crisis within the next month, responding: “Not at all.”
His comments come amid concerns over tightening global petroleum supplies, geopolitical tensions and reports of reduced fuel exports to some countries in the sub-region.
Mr Tamakloe also pointed to Nigeria’s Dangote Refinery as another potential source of petroleum products for the regional market.
“Dangote is here,” he said, in response to concerns about tightening supplies.
The assurance comes shortly after the NPA increased the minimum price floors for petroleum products.
Effective September 16, the floor price for petrol was raised to GH¢16 per litre, while diesel was set at GH¢16.77 per litre and LPG at GH¢10.97 per kilogramme.
Meanwhile, BOSTenergies has clarified that a reduction in fuel exports to Burkina Faso and Mali does not indicate an impending shortage in Ghana.
The company attributed the reduction largely to ongoing revamp works at its Bolgatanga depot.
Mr Tamakloe also defended Ghana’s private-sector-led downstream petroleum model, saying the system was designed to promote private-sector participation while maintaining safeguards to protect national fuel security.
He acknowledged concerns about the possibility of private operators exerting excessive pressure on the government but said measures had been put in place to prevent a recurrence of the conditions that contributed to the 2014–15 fuel crisis.
“I think there are some buffers that we put in place to ensure that the 2014-2015 events do not happen again,” he said.
According to him, avoiding a situation where private operators could effectively control the country’s fuel supply remains a major concern for the government.
The NPA maintains that current stocks, combined with incoming cargoes, are adequate to keep Ghana’s domestic market supplied despite volatility in international petroleum markets.
