The Institute for Economic Research and Public Policy (IERPP) has called for the immediate withdrawal and fundamental review of the National Petroleum Authority (NPA) Bill, 2026. The Institute warns that the proposed legislation could significantly weaken the operational and financial capacity of BOST Energies, a critical state-owned enterprise.
This concern arises because the Bill, in its current form, grants the National Petroleum Authority and the sector minister increased control over key decisions. These decisions include the management of strategic fuel reserves, depot operations, and petroleum infrastructure, which are vital for BOST's independent functioning.
The IERPP's concerns are particularly significant given BOST's robust financial performance in 2025. The company recorded a net profit increase from GHS 398 million to GHS 684 million. Total revenue also saw a substantial rise, climbing from GHS 1.33 billion to GHS 3.84 billion in the same period. This strong financial health underscores BOST's importance to Ghana's energy sector and public finances.
Professor Isaac Boadi, Executive Director of IERPP, stated that the proposed law should not pass in its current form. He emphasized the need for comprehensive stakeholder consultation, review, and redrafting of the Bill. Professor Boadi stressed that BOST's mandate and operational authority must be clearly protected within any new legislation. The Institute also advocates for strategic fuel reserves to remain under national control with dedicated funding. They further demand a transparent, cost-reflective mechanism for approving BOST’s charges for storage, trans-shipment, and pipeline services.
Weakening BOST could have severe implications for Ghana's fuel security, a critical national interest. The IERPP warns that nearly half of BOST's 658 staff could face layoffs if the company's financial stability is compromised. Such job losses would impact hundreds of families and add to unemployment figures. The broader economic impact of disrupted fuel supply chains could also be substantial, affecting various sectors dependent on reliable energy. This situation highlights the delicate balance between regulatory oversight and the operational autonomy of state-owned enterprises.
The government and Parliament now face pressure to address these warnings from the IERPP. Stakeholders will closely watch how they respond to calls for a review and potential redrafting of the NPA Bill, 2026. Ensuring Ghana's energy security and protecting public sector jobs will be key considerations in this legislative process. Any decision will impact the country's economic stability and its ability to manage strategic resources effectively.