NPA, 24 Hour Economy Authority sign MoU

The National Petroleum Authority (NPA) and the 24 Hour Economy Authority have signed a Memorandum of Understanding (MoU) to operationalise round-the-clock activities in the downstream petroleum sector, as part of efforts to drive Ghana’s 24-hour economy agenda.

The initiative is expected to ensure the continuous availability of petroleum products, improve efficiency in supply and distribution, and create employment opportunities nationwide.

Speaking at the signing ceremony in Accra on Tuesday, the Chief Executive Officer of the NPA, Mr Godwin Edudzi Tameklo, described the agreement as a “transformative milestone” that would redefine operations in the downstream petroleum sector.

He noted that the sector, which powers transportation, industry, and commerce, had long operated within limited hours, resulting in inefficiencies and lost economic opportunities.

Under the new arrangement, key installations, including bulk storage depots, refineries, and retail outlets, would operate 24 hours a day to ensure uninterrupted fuel supply.

Mr Tameklo said the policy would enhance access to petroleum products, strengthen supply chain reliability, boost government revenue, and create thousands of direct and indirect jobs.

The Presidential Advisor on the 24 Hour Economy, Mr Augustus Goosie Tanoh, said the partnership would address a key constraint to industrial growth: limited access to fuel and energy services outside regular working hours.

Mr Tanoh said implementation would begin with a pilot covering about 10 per cent of the downstream sector, including selected fuel stations, depots, and transport systems. Operators willing to extend their hours would undergo certification by the NPA, with coordinated security and regulatory support provided.

The Deputy Minister for Energy and Green Transition, Mr Richard Gyan-Mensah, described the 24-hour economy as a gradual process requiring coordinated efforts.

BY STEPHANIE BIRIKORANG

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