Ghana’s government raised GH₵17.3 billion in 2024 from petroleum levies, but concerns persist over inefficient allocation and transparency.
Ghana‘s government collected approximately GH₵ 17.3 billion in 2024 from taxes, levies, and margins on petroleum products, according to the Africa Centre for Energy Policy (ACEP).
Kodzo Yaotse, ACEP’s Policy Lead for Petroleum and Conventional Energy, outlined the figures at a press conference, in Accra.
📢 GET A DETAILED ARTICLES + JOBS
Join SamBoad's WhatsApp Channel and never miss a post or opportunity.
The revenue sources included components like the Bulk Oil Storage and Transportation (BOST) Margin, Primary Distribution Margin (PDM), Energy Sector Debt Recovery Levy, Sanitation Levy, Road Levy, and the Unified Petroleum Price Fund (UPPF).
Yaotse noted that these revenues stemmed from energy consumption, saying “In 2024, we raised an additional GHS 7.6 billion through margins and GHS 9.7 billion from taxes and levies. Each litre of fuel consumed contributes to these revenues, with 1,737 litres allocated for margins and 1,790 litres for taxes and levies.”
However, Yaotse criticized how the government allocates petroleum revenues, emphasizing that only the Special Petroleum Tax directly supports energy consumption. The remaining levies, he said, are directed at addressing sector inefficiencies and managing debt.
“The Energy Sector Debt Recovery Levy, for instance, has not significantly reduced the estimated $3 billion debt in the energy sector, despite consumer contributions,” he stated.
Yaotse also expressed concern over the introduction of a new margin in 2024, which he argued exacerbates consumer costs without addressing inefficiencies in the energy sector.
ACEP has called for improved transparency and accountability in petroleum revenue usage, urging the government to prioritize critical energy infrastructure and efficiency projects over what Yaotse described as “servicing political sins of the past.”
The debate around the management of Ghana’s petroleum revenues continues to grow, with many questioning its long-term sustainability and equity.
Disclaimer: Some content on The High Street Business may be aggregated, summarized, or edited from third-party sources for informational purposes. Images and media are used under fair use or royalty-free licenses. The High Street Business is a subsidiary of SamBoad Publishing under SamBoad Business Group Ltd, registered in Ghana since 2014.
For concerns or inquiries, please visit our Privacy Policy or Contact Page.
