Ghana loses $200m in the petroleum sector to illicit activities

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Ghana loses 200 million dollars of tax revenue to smuggling of petroleum products and other nefarious activities in the petroleum sector every year.

Chief Executive of the National Petroleum Authority Alhassan Tampuli who described these nefarious activities as “lucrative”, mentioned Takoradi port, Tema main Port, Prampram, Aflao and the eastern coastline as the unapproved offshore routes for the smuggling.

“These nefarious activities of the petroleum service providers and some that are not even service providers, led to the country losing colossal 200 million dollars per annum of tax revenue,” he said.

Speaking at the at this year’s Ghana international petroleum conference in Accra Wednesday, he said these activities are also causing the country to lose about 12 million dollars from the unified petroleum price fund annually.

Mr Tampuli indicated that some elements in the petroleum industry have made it their business to engage in nefarious activities which eventually leaves the country poorer.

He expressed concerns about smuggling of subsidised products such as premix, marine gas and gasoline, as well as what he termed fraudulent freight claims from some transporters and siphoning of LPG from bulk vehicles into surface tanks.

The Chief Executive revealed poor quality products from some neighbouring countries are smuggled by road through unapproved entry points between Ghana and Togo and eventually end up at private tank yards, mining companies and other retail outlets.

Again, he said some players have been dumping gas oil declared for sale to foreign vessels at local filling stations while some of them have been engaging in under declaration and non-declaration of products lifted at various depots.

“Over 300,000 metric tonnes of actual annual consumption was unreported [last year]” he said.

On the back of these, he said the GNPC has in collaboration with the Ghana Revenue Authority, the Ghana Navy and the security agencies rolled out measures to tackle the problem head on to save the nation from the loses.

“I believe it is time for petroleum players in the sub region to engage in a dialogue and the issues that confront us and find common unique solutions for the advancement of our respective countries.

By 3news

ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Communications Executive and Philanthropist. Editor-in-Chief of A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). In 2015, he won a £35,000 postgraduate scholarship to study MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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