If BOST made GH¢684m profit, why use NPA Bill 2026 to weaken it? – IERPP questions Gov’t

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 it could weaken the operations of BOST Energies (BOST).

According to IERPP, Parliament is currently considering the Bill to tighten rules in Ghana’s downstream petroleum sector, but some provisions would hand the NPA and the sector minister greater control over decisions BOST needs to manage itself.

“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, Prof. Isaac Boadi.

The think tank noted that if BOST is weakened financially, close to 50% of its 658 staff could be laid off, worsening unemployment and contradicting government’s 24-hour economy promise.

“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.

BOST’s reported 2025 Performance

Citing the 2025 State Ownership Report, IERPP said BOST had a strong year: Total revenue of GH¢1.330bn in 2024 to GH¢3.841bn in 2025 – up 189% as well as operating revenue of GH¢1.293bn to GH¢3.809bn, up by 195%.

The IERPP quoted the State Interests and Governance Authority (SIGA)

report that says BOST’s net profit was GH¢398.40m to GH¢683.96m – up 72%.

The Institute however, flagged that operating margin fell from 31% to 19% due to higher direct trading costs.

IERPP raised three key questions with new Bill:

• 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 stay sustainable if competing depots are licensed and profitable business is drawn away?

IERPP’s 7 Demands:

The Institute made the following 7 demands:

• Withdraw and fundamentally review the NPA Bill, 2026
• Clearly define and protect BOST’s mandate – including power to sell directly to OMCs
• Keep strategic fuel reserves under national control – BOST must remain principal manager
• Provide dedicated funding for reserves and infrastructure – BOST margin should support new depots
• Establish a fair, transparent and cost-reflective tariff mechanism
• Prevent unfair competition – BDCs should not be allowed to build inland depots that undermine BOST
• Keep NPA as regulator, not a market participant

“Responsibility without authority is unfair. Responsibility without funding is unsustainable. National infrastructure without sustainable revenue is a liability waiting to happen,” Prof. Boadi stated.