Ghana's NPA says it is working to prevent market distortion related to MGO sales in the country. File Image / Pixabay
In what it says is an effort to curb illegal activity in the petroleum downstream industry, Ghana's National Petroleum Authority (NPA) will be introducing new taxes and charges on MGO operations in the country, Ghanaian media reports.
"We have been receiving requests for marine gas oil," Hassan Tampuli, CEO of the NPA, told GhanaWeb, explaining: "we observed that there has been some 2000 percent increase in the demand, and this cannot be mathematically feasible so we have had to interrogate the demands.
"We checked, and it turns out that some of the vessels that were claimed to be bunkered were not even in Ghana. So somebody takes the product and immediately dumps it on the Ghanaian market without paying the necessary taxes, levies and margins."
Working with the Ministry of Finance, NPA says new taxes, levies, and margins on the sale of all MGO will be implemented in the country in order to prevent current market distortion.