The Institute for Economic Research and Public Policy (IERPP) has called on Parliament not to pass the National Petroleum Authority (NPA) Bill, 2026 in its current form, warning that it could weaken BOST Energies despite the company’s reported financial turnaround.

Parliament is considering the Bill as part of efforts to tighten regulation in Ghana’s downstream petroleum sector, covering the storage, transportation and distribution of fuel.

In a statement read at a press conference on Wednesday September 16, 2026 in Accra by its Executive Director, Professor Isaac Boadi, IERPP said some provisions of the Bill would give the NPA and the sector minister greater control over decisions that BOST needs to make independently.

“BOST Energies is not an ordinary company. It is a state-owned entity responsible for holding Ghana’s strategic fuel reserves and maintaining the national network of depots and pipelines,” IERPP said.

According to the Institute, weakening BOST financially could put nearly 50% of its 658 employees at risk of losing their jobs, worsening unemployment and contradicting the government’s 24-hour economy agenda.

“You cannot promise an economy where one job creates opportunities for three people across three shifts while allowing hundreds of existing jobs at BOST to be put at risk,” the statement said.

BOST’s reported record 2025 performance

IERPP cited the 2025 State Ownership Report to highlight BOST’s reported financial performance and questioned why the company’s operations should be weakened despite the improvement.

According to the SIGA report, BOST’s total revenue increased from GH¢1.33 billion in 2024 to GH¢3.841 billion in 2025, representing a 189% increase.

Operating revenue also rose from GH¢1.293 billion to GH¢3.809 billion, an increase of 195%, while reported net profit increased from GH¢398.40 million to GH¢683.96 million, representing a 72% rise.

The think tank, however, noted that BOST’s operating margin declined from 31% to 19% due to higher direct trading costs.

3 key questions

IERPP posed three key questions about the proposed legislation.

It asked how BOST could be responsible for managing strategic reserves if decisions on funding, stock levels and the release of reserves remain with other authorities.

It also questioned how BOST could maintain its depots and pipelines if its charges require regulatory approval without a clear cost-reflective methodology.

The Institute further asked how BOST could remain financially sustainable if competing depots are licensed and profitable business is diverted away from the state-owned company.

“Ghana must not end up where private operators enjoy the most profitable parts of petroleum logistics while BOST is left holding expensive national obligations,” it warned.

IERPP’s 7 demands

The Institute called for:

1. The withdrawal and fundamental review of the NPA Bill, 2026.

2. A clear definition and protection of BOST’s mandate, including the power to sell directly to Oil Marketing Companies (OMCs).

3. Strategic fuel reserves to remain under national control, with BOST serving as the principal manager.

4. Dedicated funding for strategic reserves and infrastructure, including the repurposing of BOST’s margin to support the development of new depots.

5. The establishment of a fair, transparent and cost-reflective tariff mechanism.

6. Measures to prevent unfair competition, including restrictions on Bulk Distribution Companies (BDCs) building inland depots that undermine BOST.

7. The NPA to remain an effective regulator rather than becoming a participant in the market.

“Responsibility without authority is unfair. Responsibility without funding is unsustainable. National infrastructure without sustainable revenue is a liability waiting to happen,” Professor Boadi concluded.