Godwin Kudzo Tameklo says government absorbed GH‵2bn in fuel costs

Godwin Kudzo Tameklo, the Chief Executive Officer of the National Petroleum Authority (NPA), has announced that the government has absorbed more than GH₵2 billion to mitigate the impact of rising fuel prices on consumers. Speaking at the 2026 NPA Consumer Week Celebration in Kasoa, Tameklo stated that the intervention was a direct result of instructions from President John Mahama to provide economic relief to Ghanaians facing financial pressure from the global energy market. This measure aims to shield the public from the full volatility of international crude prices, which often dictates the local cost at the pump.

The GH₵2 billion expenditure represents a significant state intervention designed to stabilize pump prices and prevent sharp increases that would otherwise affect the cost of living. According to the NPA CEO, this move is part of the Mahama administration's broader strategy to improve the general living conditions of the citizenry amidst ongoing economic challenges. Tameklo emphasized that without this absorption, fuel prices at various service stations across the country would have been considerably higher, which would have inevitably triggered a rise in transportation fares and the cost of basic commodities.

The announcement highlights the government's proactive stance in managing the energy sector's volatility during a period of global economic uncertainty. The NPA Consumer Week, where the revelation was made, serves as a platform for the regulator to engage with the public on safety, pricing, and service delivery standards. By absorbing these costs, the government intends to provide a necessary buffer for both commercial and private transport users, ensuring that essential services remain accessible while the state continues to monitor the complexities of the petroleum supply chain.