Businesses express concern over timing of new fuel levy 

Businesses across Ghana are expressing concern about the recent implementation of a GH¢1 per litre levy on petroleum products, cautioning that the move could undo recent progress in easing consumer burdens and restoring economic confidence.

Mark Badu-Aboagye, Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), has criticised the lack of a transitional buffer before reintroducing fuel-related costs. He acknowledged the importance of using the levy to address energy sector debts but emphasized the need for better timing and consideration of its impact on consumers.

“While the rationale for the levy—to support the energy sector’s financial recovery—is valid, the rate of increase, which represents about 8% of the current fuel price, is too steep,” he said. “Fuel prices had only just begun to drop, offering consumers some relief. Given the hardships people have endured, a delay would have been more appropriate before adding new costs.”

GNCCI President Stephen Miezen echoed these sentiments, highlighting the private sector’s readiness to collaborate with government to stimulate economic growth, reduce reliance on imports, and boost local industry. He stressed, however, that genuine partnership requires strong engagement and shared objectives.

“The business community is keen to work with government to expand production, reduce import dependency, and increase exports. But this requires open dialogue, mutual understanding, and a clear commitment to joint goals,” Miezen stated.

Meanwhile, Prince Ackuaku, Chair of the Chamber Business Awards Planning Committee, said this year’s awards ceremony—scheduled for November 8—will highlight businesses that have remained resilient and impactful during challenging times.

“We want to celebrate companies that have not only adapted through tough economic conditions but have also contributed significantly to national progress, either through innovation or collaboration with public or civil institutions,” Ackuaku noted.

The upcoming 5th Chamber Business Awards will be held under the theme: “Revitalising Ghana’s Development Agenda Through Strategic Public-Private Collaboration.” The event seeks to underscore the private sector’s central role in national recovery and to promote accountability in government policymaking amid economic pressures.

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