Ghana Removes Fuel Subsidy

Cars queue outside a petrol station in Lagos, Nigeria, Wednesday, June. 22, 2022. (AP Photo/Sunday Alamba)/XSA105/22173671909225//2206222050

The Ghana National Petroleum Authority has announced removal of fuel subsidy in the country.

The removal of the subsidy is part of the country’s implemented regulatory measures to ensure stability across its downstream sector.

The Chief Executive Officer of NPA, Abdul Hamid, said this during a presentation at the ongoing Africa Refiners and Distributers week 2023, in Cape Town, South Africa.

Hamid said the Ghanaian government, through the NPA, has also removed energy subsidies.
“We have removed subsidies and deregulated our markets. Industries were shutting down because the government was finding it hard to find the money to provide subsidies and to this day industry is being powered by investments in the private sector and there are no complaints of supply.

“We are ensuring affordability and security for the vulnerable consumers through the removal of energy subsidies,” he said while speaking on more reforms implemented in the NPA.

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