By Daily News Flash | September 27, 2026
Former Finance Minister and Ranking Member on Parliament’s Finance Committee, Dr. Mohammed Amin Adam, says the NPP government implemented broader and more permanent measures to cushion Ghanaians against rising fuel prices than the current GH¢2 reduction on diesel being offered by government.
Dr. Amin Adam made the claim in a Facebook post on Sunday, September 27, 2026, where he compared the current intervention with measures taken by the previous NPP administration.
According to him, the NPP’s interventions included:
– Abolition of the excise tax on fuel
– Reduction of the Special Petroleum Tax from 17.5% to 15% and subsequently to 13%
– Conversion of the Special Petroleum Tax from an ad valorem tax to a specific tax
– Zero-rating of the Petroleum Stabilisation and Recovery Levy for extended periods
He explained that these measures were not just temporary because they were backed by legislation and their fiscal cost was absorbed through the national budget.
Dr. Amin Adam also pointed to the NPP’s *Gold for Oil programme*, which he described as “revolutionary”. He said the initiative helped bring fuel prices down significantly after pump prices exceeded GH¢20 per litre by securing petroleum products while reducing foreign-exchange pressure. Dr. Amin Adam previously served as Chairman of the Gold for Oil initiative.
In contrast, he argued that the current GH¢2 relief on diesel is temporary and involves only reductions in margins for the Bulk Oil Storage and Transportation Company (BOST) and the Unified Petroleum Pricing Fund (UPPF).
He noted that even with the intervention, diesel is still selling between GH¢17.55 and GH¢18.99, and that half of the GH¢2 relief has already been neutralised by a GH¢1 per litre levy imposed by government.
Dr. Amin Adam further attributed pressure at the pumps to a 12% depreciation of the cedi year-to-date, saying Ghana remains exposed to both international price movements and exchange rate fluctuations.
“What we need now is a comprehensive intervention by the government. The temporary relief is not enough,” he said, calling for a review or suspension of recent increases in petroleum-related taxes.
Source: http://MyJoyOnline.com / Ernest K. Arhinful
