Egalitarian Voice
Online news outfit that comes with credible and factual news
Click Here
Our Commitment
We are committed to give latest news and update all over the world. We give valid news, events and occurence around the globe
Click Here
Previous
Next

Breaking: Government Removes Fuel Subsidy, Give Reasons

Breaking: Government Removes Fuel Subsidy, Give Reasons

The government of Ghana as ordered National Petroleum Authority to announced the removal of fuel subsidy in the country.

The removal of the subsidy is part of the country’s implemented regulatory measures to ensure stability across its downstream sector.

The Chief Executive Officer of NPA, Abdul Hamid, said this during a presentation at the ongoing Africa Refiners and Distributers week 2023, in Cape Town, South Africa.

Hamid said the Ghanaian government, through the NPA, has also removed energy subsidies.

“We have removed subsidies and deregulated our markets. Industries were shutting down because the government was finding it hard to find the money to provide subsidies and to this day industry is being powered by investments in the private sector and there are no complaints of supply.

“We are ensuring affordability and security for the vulnerable consumers through the removal of energy subsidies,” he said while speaking on more reforms implemented in the NPA.

He disclosed the plans were implemented in response to the global oil and gas market volatility caused by the Russian-Ukraine war and energy transition-related policies.

“For the first time in 30 years, we have installed fuel caps as a measure to intervene and to control market instability,” he disclosed.

Hamid added that the NPA has also created a special fund to assist refineries in boosting their capacity to 50 barrels of oil in order to meet the country’s growing demand.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Segun Akinlabi

Media Blogger

EgalitarianVoice is a subsidiary of EGALITARIAN MEDIA HUB, it is a blog that keeps you up to date latest news and updates all around the world.

Our articles are written by real life geeks, seasoned and experienced authors.

The site is committed to secure your right cus your voice must be heard and advertisement of your products & services.

The site is managed by Egalitarian Segun AKINLABI who is the Editor-in-chief, others editors from Egalitarian Team Oyo State, Nigeria.

Egalitarian

Featured Posts
Advertisements