The Founding President of IMANI Africa, Franklin Cudjoe, has welcomed the government’s decision to suspend the implementation of the contentious Energy Sector Levy, commonly referred to as the Fuel Levy.
He described it as both “sensible” and appropriately timed in light of mounting global oil price volatility stemming from tensions in the Middle East.
Responding to the Ghana Revenue Authority’s (GRA) directive on 13 June to indefinitely postpone the imposition of the GH¢1 per litre levy, Mr Cudjoe took to Facebook to commend the government’s prudence in reassessing the broader economic implications of the policy.
“As oil prices are set to rise due to tension in the Middle East, the government must assess the situation and likely impact before rolling out the GH¢1 ‘dumsor’ levy,” he stated.
Mr Cudjoe further advised the government to take proactive steps in mitigating the impact of any impending oil shock.
He proposed accelerating domestic oil production, wisely channelling recent foreign exchange and gold windfalls—especially into agriculture—and prioritising the recovery of misappropriated public funds accumulated over the past eight years to bolster economic resilience.
His remarks come amidst political backlash from the Minority in Parliament, who have sharply criticised the Mahama administration for what they termed a chaotic reversal on the Energy Sector Levies (Amendment) Act, 2025.
They argue that the indefinite suspension highlights a broader trend of poor stakeholder consultation and erratic policymaking.
In response to the escalating geopolitical risks, President John Dramani Mahama has tasked the Ministries of Finance and Energy to assess the potential consequences of rising oil prices, fuelled by the Israel-Iran conflict, while assuring the public of the government’s commitment to cushioning citizens from undue financial strain.
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