The CEO of the Association of Oil Marketing Companies (AOMCs), Dr Riverson Oppong, has questioned the effectiveness of the Energy Sector Levy Act (ESLA).

This follows Parliament’s approval of a new GH¢1 levy on petroleum products under the Energy Sector Levy (Amendment) Bill, 2025.

Speaking on JoyNews’ PM Express and monitored by GhanaWeb, Dr Oppong expressed frustration over the lack of transparency and tangible outcomes from the existing ESLA, warning that continually increasing levies without addressing deeper issues will not resolve Ghana’s ongoing energy challenges.

“Last year alone, according to our table-top calculations, ESLA raised no less than GH¢9 billion. And you’re going to ask yourself — where did the money go?” he quizzed.

He explained that the downstream petroleum sector has long supported the electricity sector through ESLA and other levies.

However, he insisted that the real issue is not a lack of funds, but poor financial management and inefficient allocation of resources.

“It is not about increasing the ESLA or adding another GH¢1 to it that might solve the problem.

“We need to understand what the exact problem is. Building a storey building on a very soft foundation will cause a collapse,” he stated.

AS/AE