Vice Chair of the Energy Committee, Kofi Arko Nokoe, has clarified that removing the GH₵ 1 fuel levy will not automatically result in lower pump prices for Ghanaians.
Speaking in an interview on Joy FM’s Top Story on Wednesday, March 18, he explained that while the levy was initially introduced to address legacy debts in the energy sector, the current pricing structure ensures power stability and supports industrial operations.
“Even if the One Ghana Cedi were removed today, would prices come down immediately? That is the real question,” he said, urging Ghanaians to remain patient as the government monitors the situation.
Nokoe indicated that the government’s focus is on long-term energy stability and protecting consumers from sudden shocks.
On public calls for immediate relief, Nokoe acknowledged the importance of easing the financial burden on ordinary Ghanaians but stressed that hasty decisions could harm the economy.
“There should not be any panic. The assurance has been given that there is cover for about six weeks, and much is being done to ensure that ordinary Ghanaians do not bear the brunt of the situation,” he said.
The MP also highlighted ongoing reforms in the energy value chain, including initiatives to expand renewable energy and improve revenue mobilisation by the Electricity Company of Ghana (ECG). He expressed confidence in the Energy Ministry’s leadership, assuring that any forthcoming decisions will be in the best interest of Ghanaians.
His comments follow increasing pressure from the Minority to scrap the One Ghana Cedi GH₵ 1levy and provide relief to Ghanaians amid rising global crude oil prices. Lawmakers and consumer advocates have urged the government to act quickly to cushion the public from escalating fuel costs, which have raised concerns about affordability and inflation.
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Source: www.myjoyonline.com