The Institute for Economic Research and Public Policy (IERPP) has cautioned Parliament against passing the National Petroleum Authority (NPA) Bill, 2026 in its current form, warning that some provisions could weaken the operations of BOST Energies (BOST).

According to IERPP, Parliament is currently considering the Bill as part of efforts to tighten regulations in Ghana’s downstream petroleum sector.

However, the Institute said some provisions 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,” the Institute said in a statement read at a press conference in Accra by its Executive Director, Professor Isaac Boadi.

The think tank warned that if BOST’s financial position is weakened, close to 50% of its 658 staff could be laid off, potentially 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,” IERPP stated.

BOST’s reported 2025 performance

Citing the 2025 State Ownership Report, IERPP said BOST recorded a strong performance in 2025, with total revenue increasing from GH¢1.330 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%.

The Institute, citing the SIGA report, said BOST’s net profit increased from GH¢398.40 million to GH¢683.96 million, representing a 72% rise.

However, IERPP noted that BOST’s operating margin declined from 31% to 19% due to higher direct trading costs.

IERPP’s concerns over the new Bill

IERPP raised three key questions about the proposed legislation.

“How can BOST be responsible for strategic reserves if decisions on funding, stock levels and release remain with other authorities?”

“How can BOST maintain depots and pipelines if charges it needs to levy require regulatory approval without a clear, cost-reflective method?”

“And how can BOST remain sustainable if competing depots are licensed and profitable business is drawn away?”

IERPP’s seven demands

The Institute called for the withdrawal and fundamental review of the NPA Bill, 2026.

It also demanded that the government:

- Clearly define and protect BOST’s mandate, including its power to sell directly to OMCs; - - Keep strategic fuel reserves under national control, with BOST remaining the principal manager; - - Provide dedicated funding for strategic reserves and infrastructure; - - Allow BOST’s margins to support the development of new depots; - - Establish a fair, transparent and cost-reflective tariff mechanism; - - Prevent unfair competition by ensuring BDCs are not allowed to build inland depots that undermine BOST; and - Keep the NPA as a regulator rather than a market participant.

“Responsibility without authority is unfair. Responsibility without funding is unsustainable. National infrastructure without sustainable revenue is a liability waiting to happen,” Professor Boadi stated.If BOST made GH¢684m profit, why use NPA Bill to weaken it? – IERPP questions government

The Institute for Economic Research and Public Policy (IERPP) has cautioned Parliament against passing the National Petroleum Authority (NPA) Bill, 2026 in its current form, warning that some provisions could weaken the operations of BOST Energies (BOST).

According to IERPP, Parliament is currently considering the Bill as part of efforts to tighten regulations in Ghana’s downstream petroleum sector.

However, the Institute said some provisions 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,” the Institute said in a statement read at a press conference in Accra by its Executive Director, Professor Isaac Boadi.

The think tank warned that if BOST’s financial position is weakened, close to 50% of its 658 staff could be laid off, potentially 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,” IERPP stated.

BOST’s reported 2025 performance

Citing the 2025 State Ownership Report, IERPP said BOST recorded a strong performance in 2025, with total revenue increasing from GH¢1.330 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%.

The Institute, citing the SIGA report, said BOST’s net profit increased from GH¢398.40 million to GH¢683.96 million, representing a 72% rise.

However, IERPP noted that BOST’s operating margin declined from 31% to 19% due to higher direct trading costs.

IERPP’s concerns over the new Bill

IERPP raised three key questions about the proposed legislation.

“How can BOST be responsible for strategic reserves if decisions on funding, stock levels and release remain with other authorities?”

“How can BOST maintain depots and pipelines if charges it needs to levy require regulatory approval without a clear, cost-reflective method?”

“And how can BOST remain sustainable if competing depots are licensed and profitable business is drawn away?”

IERPP’s seven demands

The Institute called for the withdrawal and fundamental review of the NPA Bill, 2026.

It also demanded that the government:

- Clearly define and protect BOST’s mandate, including its power to sell directly to OMCs; - - Keep strategic fuel reserves under national control, with BOST remaining the principal manager; - - Provide dedicated funding for strategic reserves and infrastructure; - - Allow BOST’s margins to support the development of new depots; - - Establish a fair, transparent and cost-reflective tariff mechanism; - - Prevent unfair competition by ensuring BDCs are not allowed to build inland depots that undermine BOST; and - Keep the NPA as a regulator rather than a market participant.

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