NPA partners stakeholders behind 24-hour petroleum economy

The National Petroleum Authority (NPA) has inaugurated a Steering Committee to spearhead the implementation of the 24-Hour Economy initiative within Ghana’s downstream petroleum industry.

The launch, held on Friday, 25 July 2025, at the Authority’s head office, forms part of the government’s broader efforts to drive economic transformation through round-the-clock productivity.

The committee has been tasked with developing regulatory frameworks, operational strategies, and implementation timelines to operationalise the 24-hour economy across the downstream petroleum value chain.

In his welcome address, Godwin Kudzo Tameklo, Chief Executive of the NPA, underscored the significance of the initiative, noting that the 24-hour economy is a key government policy direction and one that the President is determined to see realised.

“The issue of the 24-hour economy is a major policy priority for the President.”

“To underscore its importance, the President has appointed a seasoned public servant, Mr Goosie Tanoh, as the Presidential Advisor on the 24-hour economy, to lead the national conversation on accelerating economic activities, particularly in sectors like ours.”

Mr Tameklo emphasised that the downstream petroleum sector is uniquely positioned to lead this transformation.

“We are privileged to have key industry players present here today—from COMAC, CBOD, BOST and others. This is the right platform to move this policy from political promise to implementable action,” he said.

Speaking on behalf of the Presidential Advisor, Ing. Roland Atanganunge Azuvugu provided an overview of the initiative, which comprises eight interlinked pillars: Make 24, Grow 24, Build 24, Connect 24, Fund 24, Aspire 24, Show 24, and Go 24.

These, he said, will form the structural foundation of the 24-hour economy, with tailored modules and incentives to support various sectors, including the downstream petroleum industry.

“The downstream petroleum sector, which includes Bulk Distributing Companies, Oil Marketing Companies, LPG marketers, and depot operators, faces significant challenges, from capital constraints to infrastructure gaps and uneven regional service delivery,” Ing. Azuvugu noted.

“This policy will introduce innovative financial models and market incentives to address these barriers.”

Industry leaders also pledged their support for the initiative.

Chief Executive of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, welcomed the formation of the Steering Committee, stating:

“From the OMC perspective, we understand the task ahead. Certain foundational policies need to be in place, and we are committed to working with all stakeholders under the leadership of the NPA to ensure that.”

Dr Patrick Kwaku Ofori, Chief Executive of the Chamber of Bulk Oil Distributors (CBOD), also called for the strengthening of both physical and digital infrastructure.

“We need enhanced security presence in key storage hubs like the eastern corridor, where nearly 75% of national storage capacity is located. Additionally, investing in technology to track and monitor fuel discharge will help prevent losses and improve transparency,” he said.

The Steering Committee will be chaired by the NPA Chief Executive, with support from his deputies, Dr Sheila Addo and Dr Dramani Bukari.

The NPA remains committed to working collaboratively with industry stakeholders to ensure the successful rollout of the 24-hour economy within the downstream sector, driving national development and enhancing energy accessibility around the clock.

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