Ghana Removes Fuel Subsidies and Establishes a Special Refinery Fund to Stabilize the Energy Sector.
According to the Ghana National Petroleum Authority (NPA), the nation has put in place regulatory measures, such as removing gasoline subsidies, to guarantee stability in its downstream industry.
He said that the actions were taken in reaction to the policies surrounding the energy transition and the Russian-Ukrainian war’s impact on the volatility of the world oil and gas markets.
Liquefied petroleum gas and natural gas development, he continued, will increase energy production, consumer access to clean cooking, and maintain environmental sustainability.
While Hamid did not specify when the subsidy was taken away, The Cable investigations revealed that the nation stopped providing subsidies for its residual fuel oil (RFO).