The Ghana National Chamber of Commerce and Industry (GNCCI) has raised concerns over the recently approved GH¢1 per litre levy on petroleum products, warning that it could undermine recent economic gains. GNCCI Chief Executive Officer Mark Badu-Aboagye expressed reservations about the timing and rate of the levy, citing the potential impact on consumers and businesses.
“The intended purpose of the levy is relevant, but we take issue with the timing and rate,” Badu-Aboagye said. “We’ve only just started enjoying some relief from lower fuel prices, and introducing an additional burden without a grace period could be detrimental.”
GNCCI President Stephen Miezen emphasized the need for strategic engagement and mutual respect between policymakers and the business community. “The private sector is eager to collaborate with government to drive growth, reduce imports, and expand exports,” he said. “However, this requires deeper engagement, shared goals, and a strong mutual commitment.”
The GNCCI’s concerns come ahead of the 5th Chamber Business Awards, which aims to recognize enterprises that have innovated through economic challenges and contributed to national development goals. The event’s theme, “Revitalising Ghana’s Development Agenda Through Strategic Public-Private Collaboration,” highlights the importance of cooperation between government and the private sector.
