President John Dramani Mahama has reaffirmed that the newly introduced GHS1 fuel levy will not trigger an immediate increase in fuel prices, citing Ghana’s improving macroeconomic stability and a stronger cedi as key factors mitigating its impact.
During the National Economic Dialogue Committee’s final report presentation at Jubilee House on June 4, President Mahama addressed concerns surrounding the Energy Sector Levy (Amendment) Bill, 2025, which is expected to generate GHS5.7 billion annually.
According to the President, revenue from the levy will be ring-fenced for critical energy-related expenditures, including:
– Debt repayment to stabilize Ghana’s energy sector
– Fuel procurement to ensure a reliable power supply
Despite public apprehension, Mahama assured Ghanaians that the policy would not immediately affect fuel prices.
“With the recent gains in macro stability and the strengthening of the Ghana cedi, this levy is not expected to result in immediate fuel price increases at the pump”.
Recognizing the financial strain on households and businesses, Mahama emphasized that the decision was made after careful deliberation.
“We are fully aware of the burden this will place on households and businesses, but I want to assure Ghanaians that this decision was not taken lightly”.
