Dean of the UPSA Law School, Professor Ernest Kofi Abotsi, has advised the government to holistically look into the operations of the Tema Oil Refinery (TOR).
According to him, since the government took over the operations of TOR, the company appears to be constantly depleting government resources.
This, he said, has caused massive losses to the state and it is now time for the audit of the refinery.
He made these comments while contributing to the topic on JoyNews’ Newsfile on Saturday, December 2.
“TOR appears to have been this animal that government to government in Ghana for some reason, we just don’t seem to have the answer. Perhaps it’s about time beyond the recovery for Ghana to have a proper stepping back conversation on TOR which may involve perhaps a comprehensive commission of inquiry,” he added.
Highlighting key questions that the State needed to ask for the reevaluation process, he said “We need to probably understand whether TOR as a national asset, whether it is strategic. If it is strategic whether Ghana as a country should continue involving itself in TOR or whether we should diversify ourselves of TOR. If we are diversifying ourselves of TOR how do we overcome the perennial deficit of selling or rather underselling State Assert?
Professor Abotsi stressed “I think that we have gotten to that point where perhaps we should have that conversation.”
He was reacting to a recent decision by the Office of the Special Prosecutor to investigate and perform a corruption risk analysis of the proposed partnership between TOR and Tema Energy and Processing Limited. The OSP has since directed TOR to suspend its operations until further notice.
Meanwhile, the management of TOR has since debunked claims of engaging in a murky proposed partnership agreement with Tema Energy and Processing Limited.
Also, the Attorney General and Ministry of Justice indicated that it is not in a position to vouch for the credibility of Torrenco Asset Management Limited (TAML) to partner with Tema Oil Refinery to revive the ailing company.
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