The Institute of Economic Research and Public Policy (IERPP) has called on the government and Parliament to withdraw the proposed National Petroleum Authority (NPA) Bill, warning that it could undermine the mandate of the Bulk Oil Storage and Transportation Company (BOST) if passed in its current form.

Executive Director of IERPP, Professor Isaac Boadi, said the proposed legislation could have implications for the management of Ghana’s strategic fuel reserves and the country’s broader fuel security.

Speaking on the proposed bill, Prof. Boadi also raised concerns about what he described as inadequate consultation with key stakeholders before the legislation was introduced.

“We’ve not had proper stakeholder consultation as far as this is concerned.”

He urged the government and Parliament to withdraw the bill and subject it to further consultation and review.

“We’re calling on government, Parliament to quickly withdraw the bill as early as possible and ensure we don’t pass the bill in its current state.”

Concerns over BOST’s mandate

Prof. Boadi argued that BOST plays an important role in Ghana’s fuel security by maintaining strategic storage capacity and serving as a source of supply during periods of disruption.

He expressed concern that proposed changes under the bill could affect BOST’s existing mandate and, in turn, have implications for the country’s ability to manage strategic fuel reserves.

He also raised concerns about the potential impact on jobs at BOST.

According to Prof. Boadi, about 689 staff could be affected by the proposed changes, with him claiming that approximately half could potentially lose their jobs if the bill is passed in its current form.

“If we allow it to be passed in its current form, about 50 percent of 689 staff will not have jobs anymore.”

He linked the concern to the government’s 24 Hour Economy initiative, arguing that changes that potentially reduce employment at an existing institution would be difficult to reconcile with efforts to expand job opportunities.

“We haven’t seen the result of the 24-hour economy yet if a bill in its current form [means] a lot of people will lose their jobs.”

IERPP is therefore urging Parliament to subject the proposed legislation to further review and consultation, with particular attention to BOST’s mandate, employment implications and the management of Ghana’s strategic fuel reserves.

The institute says any changes to the petroleum-sector regulatory framework should preserve Ghana’s fuel-security arrangements and ensure that critical national petroleum assets remain effectively managed.