Transform Petroleum Margins into Tax Revenues: ACEP’s Bold Call for Change

The African Centre for Energy Policy (ACEP) is calling for a change of all petroleum margins into tax revenues to free up some 6.3 billion cedis for government.

The African Centre for Energy Policy (ACEP) advocates converting all petroleum margins into tax revenues, which could potentially free up 6.3 billion cedis for the government.

Kudzo Yaotse, the ACEP policy Lead for Petroleum and Conventional Energy, stated that this initiative could generate approximately GH₵6.3 billion in annual revenue to support essential projects.

During a press conference on Ghana’s Downstream Petroleum sector, he highlighted the challenges facing social programs like the Free Senior High School policy. He underscored the necessity of directing some funds to the education sector and other areas.

“Convert the UPPF, BOST Margin, Fuel Marking Margin, and CRM Margin into tax revenues and redirect these revenues toward developmental projects. This would save the economy with some GH₵6.3 billion to support social programs and infrastructure,” he stressed.

Mr. Yaotse further called for the commercialization of Bulk Oil Storage and Transportation.

He said the the government should prioritize addressing the energy sector debts in the short to medium term.

“We need to commercialize BOST and list it on the stock exchange. This will ensure transparency and accountability in BOST’s operations while reducing the burden on consumers. He maintained that there is a need to address the energy sector debts for developmental purposes.

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