The National Petroleum Authority (NPA) is set to introduce an automated fueling system to ensure fair pricing to support the government’s 24-hour economy initiative.
The Chief Executive Officer (CEO) of the NPA, Mr Godwin Kudzo Tameklo, said the introduction would be in phases, where the first phase would include a selected number of petroleum retail outlets, as well as the implementation of measures to ensure the continuous operation of bulk storage facilities and depots, among other initiatives.
He said this planned implementation in the downstream petroleum sector was in line with President John Dramani Mahama’s vision of running a 24-hour economy
Mr Tameklo made this announcement at a two-day downstream petroleum dialogue to discuss pertinent issues, share insights, and develop actionable strategies for the growth and sustainability of the industry. Mr Tameklo indicated that the NPA envisioned a downstream sector that is innovative, efficient, and sustainable.
“Since assuming office, I have emphasized the importance of affordability, quality, and reliability in the supply of petroleum products to Ghanaians,” he said, adding that “our commitment is to ensure fair pricing and strict adherence to industry standards, in alignment with the vision of His Excellency President John Dramani Mahama, to reset and transform the sector while also rolling out 24-hour economy solutions.”
The CEO called for robust collaboration with industry players, government agencies, and international partners to achieve the goals set in the industry.
“We must strive to reaffirm our commitment to excellence, transparency, and innovation. Together, we can overcome challenges and seize opportunities to ensure that Ghana’s petroleum downstream industry remains an efficient and significant contributor to our nation’s prosperity,” he added.
Mr Tameklo noted that since the inception of the NPA about 20 years ago, the industry had evolved significantly, saying, a solid foundation had been laid through the establishment of regulatory frameworks for pricing, supply, quality and the development of infrastructure among others.
“Ghana’s petroleum downstream plays a pivotal role in providing assurance for our nation’s energy security while driving economic growth,” he said.
The CEO further said while achieving a lot, the impact of some policies had brought about some negative externalities such as illegal imports, credit opacity, distribution inefficiencies, and some infrastructure glut.
He highlighted that, the industry was also evolving to accommodate the global call for climate change mitigation plans, and the impending risk of stranding of fossil fuel assets.
He called for a balance between providing energy security in terms of productivity, availability, accessibility and affordability to Ghanaian consumers as well as ensuring that the industry adapts efficiently to energy transition across the globe.
