The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, says Ghana’s dependence on imported refined petroleum products makes turbulence in the fuel market inevitable.

He said he assumed leadership of the downstream petroleum sector knowing that external developments could quickly affect the industry.

His comments come as Ghana’s fuel market continues to face pressure from developments in the international petroleum market, with changes in global prices being passed through to pump prices.

Speaking on Joy News’ PM Express Business Edition on Thursday, Mr Tamakloe said his role at the NPA required him to be prepared for sudden market changes.

“Having to be the Chief Executive Officer of the downstream, I appreciated the fact that we are largely import-dependent when it comes to refined petroleum products.”

He said that reality shaped his approach to managing the sector.

“So, I’ve always been, you know, let me say, ready for the potential for turbulence.”

According to him, Ghana’s petroleum industry is particularly vulnerable to changes in external factors.

“And so it’s been part of the orientation that I’ve had personally, that you are going to, as it were, lead or take charge of an industry that is largely subject to, or, you know, will face turbulence at any time that exogenous or external factors change.”

Mr Tamakloe said leadership must respond to both favourable and difficult periods in the industry.

“What I believe is that leadership, in this particular instance, there are issues, and we believe that in a good or bad time, you need to have a leadership response to both sides.”

He said the NPA has been managing the pressures facing the sector since February.

“And so, I would say that we are kind of ready, and from February till now, we’ve been trying to, as it were, manage the turbulence, manage the storm.”

The NPA boss said the authority’s management of the situation so far has been satisfactory.

“And the management so far has not been bad at all.”