Ghanian Government Removes Fuel Subsidy

Afimag.com –

The Government of Ghana, through its National Petroleum Authority (NPA) said it has removed fuel subsidy in the country.

This is part of the effort by the country’s implemented regulatory measures to foster stability across the downstream sector.

The Chief Executive Officer of NPA, Abdul Hamid, who disclosed this during a presentation at the ongoing Africa Refiners and Distributors week 2023, in Cape Town, South Africa, added that Ghanaian government has also removed energy subsidies.

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He said, “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.

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