Ghana loses $200 million to smuggling of petroleum products annually

July 10, 2019 5:07 PM

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

Ghana loses $200 million to smuggling of petroleum products annually

The Chief Executive of the National Petroleum Authority Alhassan Tampuli made this revelation at the year’s Ghana international petroleum conference held in Accra on Wednesday, July 10, 2019.

The CEO described these nefarious activities as “lucrative”. He 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.

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 the 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.

Berlinda Entsie Berlinda Entsie a reporter at Pulse.com.gh/bi/. She reports on all your business related issues and always ready to promote your business through amazing reportage.

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