You are here: HomeNews2019 08 27Article 775639

General News of Tuesday, 27 August 2019

Source: laudbusiness.com

BOST becoming a failed national asset – Duncan Amoah

The Bulk Oil Storage and Transportation (BOST) is gradually becoming another failed state-owned institution due to bad leadership, Duncan Amoah, Chief Executive Officer of the Chamber of Petroleum Consumers Ghana (COPEC Ghana).

According to him, BOST at the moment is debt-ridden, a situation that makes it unable to carry out its functions properly.

His comments follow the resignation of the Managing Director of BOST Mr George Mensah Okley.

Mr. Okley resigned from the position last Friday. Reasons for his resignation are unknown but Graphiconline reports that it may be linked to the issue of contracts at BOST.

Mr. Mensah Okley tendered in his resignation to the President after serving a little over two years at the state entity.

Mr. Amoah told Joy FM Monday, August 26 in relation to this matter that: “The systems at BOST clearly are not working. It is either one political inference or the other. It is either people who are expected to do better are doing their own thing which is eventually collapsing this strategic national asset.

“And so it is not surprising that we are seeing a third CEO who has resigned within the last three years.”

He added: “BOST can be said to be debt-ridden such that they are unable to go to the oil market and probably get oil for trading.

“And so it is becoming another failed state-owned institution because we are not putting in the right management systems or mechanism.”

Join our Newsletter