The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boagye, has called for greater government support for private oil storage companies as part of efforts to ensure consistent fuel supply across the country.
He urged authorities to consider reducing taxes and other levies on these firms, arguing that they play a crucial role in stabilising the fuel market, particularly during periods of price volatility.
“What we need to do is deepen that (private storage firms), encourage them to store more product by reducing charges on them, providing incentives for them to do that,” he said.
According to him, private storage operators have consistently acted as a buffer in Ghana’s fuel supply chain, helping to avert shortages when global market pressures drive prices upward. He noted that expanding their capacity would enhance the country’s ability to withstand shocks and reduce the likelihood of fuel scarcity.
“I think the private depots are always our saving grace, they store product in time.”
Mr Boagye further pointed to practices in Lomé, Togo, as an example of an efficient fuel storage system that supports steady supply and price stability. He suggested that Ghana could benefit from adopting a similar model to safeguard consumers and strengthen energy security.
He maintained that strategic investment in the storage sector remains key to preventing supply disruptions and ensuring that fuel remains readily available even in times of economic pressure.
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