The Minister of Energy and Green Transition, John Abdulai Jinapor, emphasized the need for the National Petroleum Authority (NPA) Act to be revised to accommodate cleaner and alternative fuels, as well as mechanisms to encourage private investment in low-carbon solutions.
According to him the revised Act must take into consideration the integration of cleaner and alternative fuels, and mechanisms that encourage private investment in low-carbon solutions.
Ghana aims to increase its renewable energy capacity to 60% of total electricity production by 2030, focusing on solar, hydroelectricity, and biomass.
Delivering the keynote address at the stakeholders meeting in Accra, the Minister added that the NPA Act review will also help to strengthen regulation, ensure fair competition, and position the industry for a competitive and sustainable environment.
“The government is working to create an enabling environment for private sector participation in sustainable energy development”, he noted.
Below is the full statement delivered by the Minister:
Stakeholders’ Engagement on the National Petroleum Authority (NPA) Bill, 2024
Keynote Address by the Hon. Minister for Energy and Green Transition
The Attorney General and Minister for Justice, Chief Executives of State Agencies, Heads of Associations and Chambers present, Industry Stakeholders, Distinguished Ladies and Gentlemen,
It is indeed a great honour to be present with all of you here this morning for this all-important event to review the National Petroleum Authority (NPA) Bill, 2024. I want to personally appreciate the team from the Ministry of Energy and Green Transition (Ministry), the NPA, and all the other stakeholders who have contributed to the review of the current Bill. I must stress the fact that this stakeholders’ forum demonstrates the government’s commitment to transparency, reforms, and inclusiveness even as we move towards a more robust and efficient petroleum downstream sector.
The existing Act 691, which was enacted in 2005, has provided the foundation for many of the gains we have made, right from price deregulation to improved LPG distribution and the promotion of fair competition in the sector.
Access to private participation has also meant a very rapid growth of the petroleum downstream industry.
We will all agree that the petroleum downstream industry is dynamic and keeps metamorphosing, but this growth has not been matched by the regulatory tools that Act 691 accords the Authority. The review of the Act has come at a crucial moment where there are heightened global calls for energy sustainability and security. We must therefore enhance the regulatory framework of the petroleum downstream industry and position it to thrive in a competitive and sustainable environment.
Personally, I must emphasize that this exercise is not only about strengthening regulation.
It is also about ensuring that our downstream sector aligns with Ghana’s energy transition agenda.
The revised Act must take into consideration the integration of cleaner and alternative fuels, and mechanisms that encourage private investment in low-carbon solutions.
Let us note that this is how we will secure a future that balances economic growth with environmental responsibility. This review is not the sole responsibility of the government. Your consultation and collaboration are of utmost importance because together we can develop a legal framework that is effective, fair, and responsive to the needs of the industry. Distinguished ladies and gentlemen, the task before us is a significant one, but I am confident that with your expertise, your contributions, and commitment, we can achieve our aim. Together, we can hope for a petroleum downstream industry that not only serves today’s needs, but also lays the foundation for a greener, more sustainable future. I thank you for your dedication and I look forward to a fruitful forum.
