Accra: Strategic Mobilisation Ghana Limited (SML) has generated GH? 20 billion in revenue for the government between May 2020 and December 2024 within the country’s downstream petroleum sector.
According to Ghana News Agency, over a four-year period, this amount was generated from 14 billion litres of petroleum products.
Dr Yaa Serwaa Sarpong, Director of Support Services at SML, disclosed this at an event marking the company’s 5th anniversary celebrations in Accra. The revenue generated each year was GH? 2.5 billion in 2020, GH? 3.9 billion in 2021, GH? 3.8 billion in 2022, GH? 4.8 billion in 2023, and GH? 5.4 billion in 2024.
She explained that SML achieved this through real-time monitoring and digital surveillance across 25 fuel depots nationwide by strengthening institutional oversight and providing transparency in downstream petroleum operations.
Before SML’s involvement, there was a recorded discrepancy of 3.2 billion litres of petroleum products due to differing records by the Ghana Revenue Authority (GRA) and the National Petroleum Authority (NPA). ‘Before the implementation of SML, from January 2019 to April 2020, both the NPA and GRA recorded the petroleum products used in Ghana. The NPA recorded these products during lifting, and the GRA also recorded them for tax purposes,’ she stated.
Dr Sarpong highlighted that the inconsistency showed the importance of equipping the GRA with innovative solutions for accurate record-keeping. SML’s innovative solution has helped to close critical revenue leakage gaps that posed a national security threat.
She asserted that SML’s innovation has positioned the company as a leader in revenue assurance for tax mobilisation in Ghana. The successes in the downstream sector have paved the way for potential engagement in the upstream sector. In October 2023, a new milestone was achieved as the GRA expanded SML’s mandate to include the upstream petroleum and solid mineral sectors.