My vision is to make downstream sector viable - NPA boss declares
The Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, says one of his major priorities will be to ensure that the petroluem downstream sector is strong and financially viable.
At a management retreat at Ada in the Greater Accra Region, Dr. Abdul-Hamid said the downstream sector was an important component of the nation’s economic success, but, if the right things were not done to ensure efficiency and robustness, the industry might struggle to contribute to the expected revenue targets for national development.
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Learning from the lessons of the banking reforms, Dr. Abdul-Hamid said the same approach should be adopted by the downstream sector. He said licences for the establishment of petroleum retail outlets should be given to those who were willing and prepared to do business, contribute the right amount of taxes into state coffers and ensure the nation benefits.
He added that third party activities in the industry should not be encouraged, because it undermined the integrity of the sector and the operations of those doing the right things.
Dr. Abdul-Hamid also affirmed his commitment to improving efficiency of the NPA’s operations, improving staff morale as well as building the capacity of staff to deliver on its mandate.
According to him, a united front and team work among staff would ensure the objectives are achieved.
Providing leadership
Dr Abdul-Hamid said the NPA under his leadership would deliver first class service to stakeholders in the petroleum downstream sector.
He explained that he was also committed to make NPA financially viable.
The retreat is part of the NPA’s way to review its mid-year performance and expedite planned strategies to meet its target for the year.
The NPA was established by an Act of Parliament to regulate the petroleum downstream industry in Ghana.
As a regulator, the authority ensures that the industry remains efficient, profitable, fair, and at the same time, ensuring that consumers receive value for money.
The industry boasts of 37 bulk distribution companies, 170 oil marketing companies and 42 liquified petroluem gas marketing companies.