Dr. Mustapha Abdul-Hamid, the Chief Executive Officer of the National Petroleum Authority (NPA), has stated that the petroleum sector’s price deregulation strategy is being examined.
He told the media in Kumasi on Friday, February 11, 2022, after a visit of the Ashanti area, that a committee had been formed and that it had concluded its job and given its findings to him.
Dr. Mustapha stated that he will review the report and forward it to the Minister of Energy for review.
He stated that the Minister will discuss it with his technocrats before bringing it to the cabinet for a thorough cabinet decision on the next phase of the deregulation agenda.
The policy was put in place in 2015 to allow petroleum marketers and importers to determine their own prices based on import parity costs, taxes, and margins.
It brought the product’s government subsidies to an end.
The policy is being reviewed, according to Dr. Mustapha.