Accra: The Institute for Economic Research and Public Policy (IERPP) has called on Parliament not to pass the National Petroleum Authority (NPA) Bill, 2026 in its current form, warning that it could weaken BOST Energies despite the company's reported financial turnaround. Parliament is considering the Bill as part of efforts to tighten regulation in Ghana's downstream petroleum sector, covering the storage, transportation, and distribution of fuel.
According to Ghana Web, in a statement read at a press conference on Wednesday, September 16, 2026, in Accra by its Executive Director, Professor Isaac Boadi, IERPP said some provisions of the Bill would give the NPA and the sector minister greater control over decisions that BOST needs to make independently. 'BOST Energies is not an ordinary company. It is a state-owned entity responsible for holding Ghana's strategic fuel reserves and maintaining the national network of depots and pipelines,' IERPP stated.
The Institute warned that weakening BOST financially could put nearly 50% of its 658 employees at risk of losing their jobs, worsening unemployment and contradicting the government's 24-hour economy agenda. 'You cannot promise an economy where one job creates opportunities for three people across three shifts while allowing hundreds of existing jobs at BOST to be put at risk,' the statement emphasized.
IERPP highlighted BOST's reported record performance in 2025, citing the 2025 State Ownership Report to question why the company's operations should be weakened despite the improvement. According to the SIGA report, BOST's total revenue increased from GHS1.33 billion in 2024 to GHS3.841 billion in 2025, representing a 189% increase. Operating revenue also rose from GHS1.293 billion to GHS3.809 billion, an increase of 195%, while reported net profit increased from GHS398.40 million to GHS683.96 million, representing a 72% rise. However, the think tank noted that BOST's operating margin declined from 31% to 19% due to higher direct trading costs.
IERPP posed three key questions about the proposed legislation. It asked how BOST could be responsible for managing strategic reserves if decisions on funding, stock levels, and the release of reserves remain with other authorities. It also questioned how BOST could maintain its depots and pipelines if its charges require regulatory approval without a clear cost-reflective methodology. Furthermore, the Institute asked how BOST could remain financially sustainable if competing depots are licensed and profitable business is diverted away from the state-owned company. 'Ghana must not end up where private operators enjoy the most profitable parts of petroleum logistics while BOST is left holding expensive national obligations,' it warned.
IERPP put forward seven demands, calling for the withdrawal and fundamental review of the NPA Bill, 2026. It also sought a clear definition and protection of BOST's mandate, including the power to sell directly to Oil Marketing Companies (OMCs), and for strategic fuel reserves to remain under national control, with BOST serving as the principal manager. The Institute called for dedicated funding for strategic reserves and infrastructure, including the repurposing of BOST's margin to support the development of new depots, and the establishment of a fair, transparent, and cost-reflective tariff mechanism. Additionally, it urged measures to prevent unfair competition, including restrictions on Bulk Distribution Companies (BDCs) building inland depots that undermine BOST. Finally, it demanded that the NPA remain an effective regulator rather than becoming a participant in the market.
'Responsibility without authority is unfair. Responsibility without funding is unsustainable. National infrastructure without sustainable revenue is a liability waiting to happen,' Professor Boadi concluded.