• Mon. Sep 26th, 2022

Bank of Ghana to give bulk distribution companies lower dollar rates – NPA boss 

Dr. Mustapha Abdul-Hamid, the Chief Executive Officer of the National Petroleum Authority (NPA), has revealed that the Authority has reached an agreement with the Bank of Ghana to grant bulk oil distribution businesses lower dollar rates.

Dr. Abdul-Hamid hoped that the agreement will result in a reduction in the country’s petroleum product costs in the following days.

He explained that the agreement was reached to restrict the forex influence on the pricing of petroleum items in light of Ghanaians’ current economic position.

“We’ve struck a contract with the Bank of Ghana to provide bulk distribution to businesses at lower dollar rates,” he said.

The NPA CEO also stated that the country will have a steady supply of the products in the following three months.

He revealed this when he paid a visit to the Awoamefia of Anlo, Togbi Sri III, at his residence in Woe, Anloga District, with some board members and selected NPA personnel.

The purpose of the visit was to see the Awoamefia and Anlo leaders and seek their advice and help in operating the NPA.

“Our decision to consult prominent chiefs like you, the Awoamefia of Anlo, is based on the understanding that wisdom does not reside in a single head, and that, while we have been appointed to the NPA, we believe there are people who are more knowledgeable in the petroleum sector whose views must be sought for the benefit of all,” Dr. Hamid said.

In his speech, Torgbui Sri III expressed his gratitude for the delegation from the NPA.

He urged the Board to make premix fuel available to individuals living along the coast because the product’s scarcity is impacting fisherman who rely on it for their livelihood.

Chief of Anlo land present at the conference was optimistic that concerns involving petroleum will better with time.

Later, Dr. Mustapha Abdul-Hamid paid a visit to the grave of Major Courage Quashigah, a former Minister in the Kufour administration.

Dr. Abdul-Hamid was accompanied by ace journalist Kwame Sefa Kayi, board member Bernard Owusu, communications manager Mohammed Abdul-Kudus, Volta Regional Director for NPA, Rashid Dauda, and Faisal Ibrahim Cisse.

Bank of Ghana to give bulk distribution companies lower dollar rates - NPA boss 
Awoamefia of Anlo, Togbi Sri III
Bank of Ghana to give bulk distribution companies lower dollar rates - NPA boss 
Bank of Ghana to give bulk distribution companies lower dollar rates - NPA boss 

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