Godwin Edudzi Tamakloe, CEO of the National Petroleum Authority, said on Joy News’ PM Express Business Edition that petroleum products are the "nervous system" of Ghana’s economy and that their supply is a matter of national security.
He explained that consumers have no alternatives when fuel is unavailable, contrasting the flexibility people have with electricity or water. "When people don’t have light, they can adjust for 24 hours. They can adjust even 12 hours. But when they don’t have petroleum products, they have no alternative," Tamakloe said.
The NPA’s mandate, he added, is to protect the downstream sector from both external market swings and domestic challenges. Ghana’s heavy reliance on imported petroleum makes local prices vulnerable to global oil movements and the exchange rate.
Tamakloe recalled the fuel supply crises of 2014 and 2015, when artificial shortages at pumps caused queues despite product availability. He said those lessons prompted the NPA to build resilience and hedge against similar disruptions.
He identified three main factors that affect petroleum availability and pricing: the FOB price, the tax component, and the exchange rate. The combination of these elements makes pricing and supply management complex, especially when global developments impact an import‑dependent industry.
As the NPA continues to navigate external pressures, Tamakloe stressed the importance of strategic management to ensure the sector remains stable and secure for the economy.
