BOST Energies is likely to lose about GH¢40 million each month following the reduction of its operational margin, Deputy Managing Director Nat Salifu Acheampong has warned.
He disclosed this during a working visit by Parliament’s Select Committee on Energy to the company’s Accra Plains depot in Tema, where he appealed for urgent intervention to restore the margin.
Mr. Acheampong explained that although the margin remains on petrol, its removal from diesel is already taking a significant toll on the company’s finances.
“Within this month we are likely to lose close to forty million Ghana cedis. And forty million Ghana cedis off our books is serious business,” he said, cautioning that sustained losses could adversely affect operations.
He stressed that the BOST margin is a key funding source for critical infrastructure projects, including plans to replace the existing six-inch Accra–Akosombo pipeline with a higher-capacity twelve-inch line to improve fuel transportation efficiency across the country.
“If we lose the BOST Margin completely, it means we’ll not be able to replace the existing pipeline,” he noted, adding that the project is expected to be completed within 12 months once funding is secured.
While indicating that the company can absorb the financial shock in the short term, he warned that any prolonged reduction would delay ongoing investments.
Mr. Acheampong also appealed to Parliament to support the restoration of the margin once prevailing global challenges ease, emphasizing the strategic role of BOST in maintaining Ghana’s fuel security.
“If there’s ever been a time that the Government or the people of Ghana should empower BOST, it is now,” he said.
Despite the financial pressure, he assured that fuel supply remains stable, with sufficient reserves across BOST’s six depots expected to last between six and eight weeks, with additional shipments anticipated.
Background
Government recently adjusted elements within the petroleum pricing structure, including the BOST margin, as part of measures to cushion consumers against rising fuel prices driven by global market pressures, particularly geopolitical tensions in the Middle East.
However, industry players warn that while the intervention offers short-term relief, it could constrain the financial capacity of key institutions like BOST to invest in infrastructure and sustain long-term energy security if maintained over an extended period.
By: Christian Kpesese
