Business Community Warns GHS1 Fuel Levy Could Undermine Economic Recovery
ACCRA – June 5, 2025 — Businesses across Ghana are voicing growing concern over the newly approved GHS1 per litre levy on petroleum products, warning that the move may reverse recent consumer relief and dampen investor and market confidence.
Mark Badu-Aboagye, CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), stressed that while the Energy Sector Levy’s goal of reducing energy sector debt is important, its timing and rate are problematic.
“We’ve only recently started enjoying some relief from lower fuel prices, just about a month ago. Considering the financial strain consumers have faced, there should have been a grace period before any additional burden was introduced,” Badu-Aboagye said following the launch of the 5th Chamber Business Awards.
He described the new charge—equivalent to roughly 8% of the current price per litre—as steep and cautioned that it could have ripple effects on production costs, transport fares, and inflation.
GNCCI President Stephen Miezen echoed this concern but added that the private sector remains committed to working with the government. He urged deeper engagement and mutual respect in policy design and execution, especially as businesses take on roles in job creation and export expansion.
“For effective collaboration, we need shared goals and strong commitment between policymakers and the business community,” Miezen said.
The 5th Chamber Business Awards, scheduled for November 8, 2025, will honour enterprises that have demonstrated innovation, resilience, and contributions to national development, especially during economic hardships.
Prince Ackuaku, Chairman of the Planning Committee, highlighted that the awards aim to recognise businesses that have worked collaboratively with the government or civil society to create measurable impact.
“We aim to honour those who have innovated during difficult times, collaborated for measurable impact and remained committed to Ghana’s development,” Ackuaku said.
With the theme “Revitalising Ghana’s Development Agenda Through Strategic Public-Private Collaboration”, the event underscores growing demands for inclusive economic policy and greater sensitivity to the realities facing consumers and businesses amid Ghana’s ongoing fiscal reforms.
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