Accra: The Institute for Economic Research and Public Policy (IERPP) has cautioned Parliament against passing the National Petroleum Authority (NPA) Bill, 2026 in its current form, warning that some provisions could weaken the operations of BOST Energies (BOST).
According to Ghana Web, Parliament is currently considering the Bill as part of efforts to tighten regulations in Ghana's downstream petroleum sector. However, the Institute said some provisions 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,' the Institute said in a statement read at a press conference in Accra by its Executive Director, Professor Isaac Boadi.
The think tank warned that if BOST's financial position is weakened, close to 50% of its 658 staff could be laid off, potentially 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,' IERPP stated.
Citing the 2025 State Ownership Report, IERPP said BOST recorded a strong performance in 2025, with total revenue increasing from GHS1.330 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%. The Institute, citing the SIGA report, said BOST's net profit increased from GHS398.40 million to GHS683.96 million, representing a 72% rise. However, IERPP noted that BOST's operating margin declined from 31% to 19% due to higher direct trading costs.
IERPP raised three key questions about the proposed legislation. 'How can BOST be responsible for strategic reserves if decisions on funding, stock levels and release remain with other authorities?' 'How can BOST maintain depots and pipelines if charges it needs to levy require regulatory approval without a clear, cost-reflective method?' 'And how can BOST remain sustainable if competing depots are licensed and profitable business is drawn away?'
The Institute called for the withdrawal and fundamental review of the NPA Bill, 2026. It also demanded that the government clearly define and protect BOST's mandate, including its power to sell directly to OMCs. The Institute urged to keep strategic fuel reserves under national control, with BOST remaining the principal manager, and provide dedicated funding for strategic reserves and infrastructure. Furthermore, IERPP advocated for allowing BOST's margins to support the development of new depots, establishing a fair, transparent and cost-reflective tariff mechanism, and preventing unfair competition by ensuring BDCs are not allowed to build inland depots that undermine BOST. It also emphasized the need to keep the NPA as a regulator rather than a market participant.
'Responsibility without authority is unfair. Responsibility without funding is unsustainable. National infrastructure without sustainable revenue is a liability waiting to happen,' Professor Boadi stated.