The Chamber of Oil Marketing Companies (COMAC) has strongly opposed the immediate enforcement of the new Energy Sector Shortfall and Debt Repayment Levy (ESSDRL), slated to begin on Monday, June 9, 2025.
In a letter addressed to the Commissioner-General of the Ghana Revenue Authority (GRA), COMAC expressed “utmost dismay” over what it describes as a coercive and institutionally ambush-style directive.
The objection follows a letter from the GRA, dated Friday, June 6 a public holiday and received by industry players on Sunday morning, June 8. The directive demands immediate compliance with the ESSDRL from the following day, leaving little to no time for adjustment.
COMAC’s leadership characterized the move as “neither lawful nor operationally feasible,” arguing that it undermines good governance and evokes “a military regime” approach.
The Chamber had previously engaged the Minister for Energy and Green Transition on June 5 to propose three practical measures to cushion the impact of the levy. However, COMAC claims the engagement was “merely ceremonial,” as their concerns were allegedly ignored.
The organization has reiterated concerns raised in a June 4 press release, warning that the downstream petroleum sector is already strained under eight separate taxes and levies. These charges currently account for 22% of the ex-pump price of fuel, and the ESSDRL would push that figure to 26%. COMAC warns this threatens industry survival, competitiveness, and consumer welfare.
In particular, the Chamber noted that the sudden implementation provides no lead time for Oil Marketing Companies (OMCs) to adjust systems, pricing, or inventory.
It expressed particular concern for those operating on a cash-and-carry basis who must now finance an unexpected tax on existing stock.
COMAC is requesting a minimum two-week transition period and a new effective date of June 16, 2025, to allow for industry alignment with the fiscal change.
Read the statement below:
