Former General Secretary of the People’s National Convention, Atik Mohammed, has criticised the Bulk Oil Storage and Transportation Company (BOST) over rising fuel prices, accusing the agency of inadequate planning.
Speaking on Asempa FM’s Ekosii Sen show, he said the current fuel price hikes highlight Ghana’s lack of preparedness in managing energy reserves amid global crises.
“We are discussing the impact of the ongoing war on global fuel prices. Stock prices are fluctuating daily, making it difficult to determine whether the US-Israel-Iran conflict or the Russia-Ukraine war has a greater effect on oil prices. What we are witnessing indicates a failure to plan effectively in Ghana,” he said.
Mr. Mohammed questioned BOST’s role, noting that the BOST margin was designed to ensure the country maintains sufficient fuel reserves during challenging periods. He argued that Ghanaians should not bear the burden of inefficiencies and demanded clarity on how funds collected by the company have been utilised.
“The BOST margin was established to ensure we have enough reserves in times of crisis. So, what happens to the money when it is collected? Why should we suffer due to their inefficiency? BOST was intended to store fuel for emergencies. If they are now using these resources to store stocks for foreign entities, they have lost sight of their purpose,” he said.
He further stressed that the margin was not meant to cover overhead costs, adding: “We need to scrutinize how BOST has been managing our fuel stocks. It is essential to hold BOST accountable for our reserves and ensure transparency in the management of Ghana’s fuel resources.”
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