Ghana loses $20 million annually due to inefficient and ineffective hydrocarbon metering

Experts in Ghana’s oil and gas industry have emphasised the urgent need for comprehensive and systematic reforms to address the persistent challenge of inefficient measurement practices.

At the inaugural Oil and Gas Measurement and Metering Summit in Accra on Wednesday, July 2, 2025, experts proposed solutions to this critical issue, identifying policy incoherence, lack of effective collaboration, outdated metering systems, and weak regulatory oversight as key factors contributing to significant losses in oil and gas product measurement.

It was revealed during the conference that Ghana loses approximately $20 million annually due to inefficient and ineffective hydrocarbon metering.

These substantial and ongoing losses have prompted experts and stakeholders to issue an urgent call for the swift implementation of measures to address the issue.

George Nii Tettey, a Measurement Engineer, spoke authoritatively on the problem, calculating that a mere one percent measurement error in a standard 100,000-barrel-per-day oil field results in daily losses of 1,000 barrels.

“At current prices, this small discrepancy costs our nation $20 million annually—funds that could transform communities or support critical infrastructure,” he said.

He added, “In an industry where billions depend on precision, ‘close enough’ measurements constitute economic sabotage. The world is watching to see whether Ghana will lead or continue to suffer.”

Emmanuel Kwesi Bedzrah, Chairman of Parliament’s Select Committee on Energy, made a startling revelation about the conduct of some companies in the oil and gas sector, urging regulators to enhance their oversight.

“When producers act as the sole judges of their own output, with only Customs officials present and no government measurement equipment, we are essentially allowing foxes to guard the henhouse,” he said.

The Deputy Chief Executive Officer for Operations and Technical at the Petroleum Hub Development Corporation (PHDC) Onasis Rosely acknowledged the metering system challenges in his speech, affirming that his organization is committed to implementing effective measurement systems at the petroleum hub.

AM/KA

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Surprisingly, refuse disposal, despite its small weight of just 0.5% in the inflation basket, saw a staggering year-on-year price surge of 130.9%, making it one of the biggest contributors to the overall rate.

Meanwhile, Government Statistician, Dr. Alhassan Iddrisu, says the sustained disinflation presents a crucial opportunity to shift from reactive price controls to more structural solutions.

He is urging businesses to rethink their sourcing models, noting that: “With inflation on locally produced goods declining faster than imported ones, businesses can reduce exposure to global supply shocks by increasing local sourcing, especially for food, packaging, and logistics inputs.”

He also advised firms to be more responsive to changing consumer behavior “Businesses could practice strategic pricing, not sharp increases, given the disinflation and even month-on-month deflation as consumers are more price-sensitive.”

In the face of rising food prices — with staples like yam still among the top inflation drivers — GSS also recommends changes in household purchasing behavior:

“Households should lean into bulk purchases of staples, buy local produce where possible, and favor in-season vegetables, cereals, and proteins, which are experiencing sharper price drops.”

As regional disparities in inflation persist, Dr. Iddrisu emphasized that economic policy must become more targeted:

“Tailor social protection and economic policy by Region as blanket policies will not be effective given wide regional disparities in inflation.”

Dr Hayford Ayerakwa is a development economist

Development Economist Dr Hayford Mensah Ayerakwa has highlighted the strategic importance of the Volta Lake as a vital transport corridor that could significantly reduce transportation costs and ease road congestion in Ghana.

His comments follow President Mahama’s announcement of the government’s plan to boost trade via the Volta Lake.

On Wednesday, July 3, 2025, President John Mahama launched the 24-Hour Plus Programme, designed to accelerate national development by promoting continuous productivity and creating jobs across various sectors.

Speaking in an interview with GhanaWeb Business, Dr Ayerakwa emphasised that leveraging the waterway could shorten transit routes for goods moving from the northern regions to Accra, thereby reducing the high costs associated with road transport.

“There is an export component to whatever is coming to Accra. If we can develop this infrastructure, we can now guarantee, maybe from Akosombo all the way to Yapei, from Yeji all the way to Akosombo, it becomes a reliable corridor. Businesses will know there are guaranteed routes from point A to point B, and this will significantly reduce transportation costs,” he said.

Dr Ayerakwa further noted that the initiative would not only lower costs for domestic consumption but also reduce expenses related to exports, making Ghanaian products more competitive in both regional and international markets.

“It impacts what the exporter will pay for transport, which means they would not need to pass that cost on to the final consumer. This makes our products more competitive. And once your product becomes more competitive, it means you’re going to generate a lot more profit,” he explained.

The development of the Volta Corridor Project aligns with national efforts to enhance trade logistics and stimulate economic growth by easing the burden on Ghana’s road networks.

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Gospel singer, Ruth Adjei is set to inspire her fans with her latest single, Awurade Yɛ (Do It Lord), released almost a year after Thank You Lord, which dropped shortly after her wedding in August last year.

Ruth hopes her new song will display her faith in God, as she awaits the fulfillment of other prayers. 

To her, music is more than just a platform to share her gift; it’s a powerful tool to encourage others to trust in God’s goodness and with Awurade Yɛ, Ruth aims to inspire listeners to deepen their faith and trust in the Lord.

Stephen Tetteh of Soundz Kitchen produced Awurade Yɛ, which blends faith, hope, and trust in God. 

It combines traditional Pentecostal worship with modern sounds, creating a beautiful harmony between the old and the new.

Awurade Yɛ is crafted in the familiar rhythms of Ghanaian Highlife, the medley brings a refreshing groove that stirs both nostalgia and praise. 

This medley stands out for its blend of old and new and stays true to traditional Pentecostal worship while adding a modern touch through instruments and vocals. 

The result is a fresh sound that respects the past and connects with today’s listeners.

According to Ruth, the song was born from a place of absolute dependence on the Lord—the kind of reliance that believes in His power to do “exceedingly abundantly above all we ask or think,” as declared in Ephesians 3:20. 

“I believe there’s nothing God cannot do. To everyone who’s expecting things to turn around, all you need to do is still keep clinging to Jesus, and He will definitely sort you out when the time is right,” she told Graphic Showbiz.

The old student of Professional Institute of Journalism and University College of Management Studies is also promoting her new Covered album which has songs such as Matchless Father, Same Old God ft Minister Igwe, My Hope, Me Gye Nyame De, Come Reign, Let’s Praise, Awurade Y3, You Reign, and Me Ndwom.

Watch video below: 

The media has been urged to play a more active role in amplifying the voices and priorities of Ghana’s agri-food sector to drive investment, support smallholder farmers, and shape inclusive policies.

Director for Communications, External Engagement, Innovations and Advocacy at AGRA, Agnes Asiimwe Konde, said food and agriculture must become central in national conversations if Ghana is to build a resilient and food-secure future.

She made the call during a dialogue on Africa’s food systems, held in Accra on Thursday and organised by AGRA, which brought together journalists from various media houses to explore strategies for building resilient, inclusive, and sustainable food systems, and to examine the media’s role in promoting transformation within Ghana’s agri-food sector.

“We need to ensure inclusive policies are being implemented and that smallholder farmers are meaningfully supported,” she said, noting that agriculture rarely dominates headlines despite its critical role in national development.

“How many times do we see agri-food system stories as headline stories in our newspapers, on radio, or on TV?” she asked. “Food is one of the biggest political conversations. Without nourished people, we won’t have the smart brains to innovate and create solutions for the continent.”

Ms Konde also stressed the importance of increasing investment in agriculture, referencing the Comprehensive Africa Agriculture Development Programme (CAADP), which urges countries to commit at least 10 percent of their budgets to the sector. She noted that Ghana currently allocates less than 3 percent.

“There’s a need to attract private sector players to invest in value addition and innovation so that we can feed ourselves with food grown locally and reduce our import bill,” she added.

Ms Konde clarified that AGRA does not formulate policies but supports governments in designing inclusive ones. She urged the media to track policy implementation and hold authorities accountable.

According to AGRA’s Programme Officer, Bashiru Musah Dokurugu, the organisation is now focused on connecting production to markets through digital platforms and partnerships that link farmers to aggregators and processors.

He explained that AGRA’s work has evolved through three strategic phases: Strategy 1.0 focused on research and seed development; Strategy 2.0 on linking farmers to inputs, finance, and markets; and Strategy 3.0 underway since 2022, emphasises value addition.

He said AGRA has trained over 5,000 Village-Based Advisors (VBAs), reducing the extension ratio from 1:1,200 to 1:760, though still far from the ideal 1:150.

Mr Dokurugu added that AGRA is also placing emphasis on youth and women by supporting initiatives that improve access to finance, skills training, and business development opportunities, especially in agro-processing and agritech sectors.

He further noted AGRA’s growing investment in climate-smart agriculture, which promotes sustainable practices such as drought-resistant seeds, soil health management, and water-efficient technologies to help farmers adapt to changing weather patterns and environmental stress.

He suggested creating a media-accessible database of agricultural experts to help improve coverage and public understanding of food systems.

BY STEPHANIE BIRIKORANG

Business leader, Bola Ray

Ghanaian media personality and business leader, Bola Ray, has called on young entrepreneurs in the country to strive to nurture their business ideas.

According to him, their ideas have the potential to shape an entire generation.

Speaking at the launch of the third cohort of EwithBR in Accra, he emphasized the critical role that mentorship and innovation play in shaping resilient, forward-thinking entrepreneurs.

He said; “Your desire to cultivate ideas not only empowers you, but it also sets a foundation for future generations.”

“Mentorship is about sharing experiences, both triumphs and setbacks, as they are essential in shaping robust entrepreneurs,” he said, urging established leaders to guide the new wave of business talent.

The event, held under the theme “Securing the Next Generation through Entrepreneurship, Mentorship, and Innovation,” introduced 15 rising entrepreneurs chosen to participate in the flagship mentorship and business acceleration programme.

Bola Ray emphasized the critical role that mentorship and innovation play in shaping resilient, forward-thinking entrepreneurs.

This year’s mentees were carefully chosen from various regions and sector.

Founded in late 2023, EwithBR provides mentorship, seed funding, branding, and training to ambitious young Ghanaian founders.

The initiative brings together an elite group of mentors, including Dr. Toni Aubynn, the Chief Executive Officer of Petroleum Hub Development Corporation, Kofi Amoa-Abban, Anand Badami, and Dr. Chanita Foster, among others, who will provide one-on-one guidance to the selected mentees.

With its focus on innovation, collaboration, and personal development, the programme continues to grow as a beacon for emerging entrepreneurs in Ghana and across Africa.

National Youth Organiser of the New Patriotic Party (NPP), Salam Mustapha, has accused state authorities of using harsh bail conditions as a strategy to detain former Buffer Stock CEO, Abdul-Wahab Hannan, despite a court granting him bail.

His comments come amid growing agitation among NPP supporters and sympathisers, many of whom gathered outside EOCO’s premises to demand Mr. Hannan’s release. Mr. Hannan was arrested on June 25 along with his wife over alleged financial impropriety.

Mr. Hannan’s wife has since been granted bail to the tune of GH¢30 million. However, despite a GH¢60 million bail condition reportedly being met, Mr. Hannan remains in EOCO custody.

Speaking to Channel One News at EOCO’s premises, Salam Mustapha described the situation as a clear abuse of process, accusing the ruling National Democratic Congress of intentionally circumventing legal standards to achieve prolonged detention.

He argued that when bail terms are deliberately set beyond reasonable reach or used as a tool to delay release, it amounts to a violation of constitutional protections.

“In Matin Kpebu vrs the Republic of Ghana, every offence is bailable, even murder is bailable. So you cannot explain to any reasonable mind why you will keep him excessive of the stipulated law time and even go beyond.

“Then you impose draconian bail conditions when you know that it is difficult to meet. When you do that, you are using the backdoor strategy to detain the person. It is as if you have given the head, and you are holding the tail. That is the new strategy of this government,” he stated.

Agradaa was jailed because of her personality -Lawyer

Congo’s government and Rwanda-backed rebels said on Thursday they would send delegations back to Qatar for peace talks, as Washington pushes for an end to fighting that could help unlock billions in mining investments.

M23 holds more territory than ever before in eastern Congo after staging a lightning advance earlier this year.

The fighting, the latest flare-up in a conflict with roots in the Rwandan genocide three decades ago, has killed thousands of people and displaced hundreds of thousands more.

U.S. President Donald Trump’s administration is trying to broker a peace deal between Rwanda and Congo that would bring billions of dollars of Western investment to a region rich in tantalum, gold, cobalt, copper, lithium and other minerals.

Qatar is hosting a separate but parallel mediation effort with delegations from the Democratic Republic of Congo government and M23.

Last week, the Rwandan and Congolese foreign ministers signed a peace accord in Washington, pledging to implement a 2024 deal that would see Rwandan troops withdraw from eastern Congo within 90 days.

The top diplomats also met with Trump, who invited Congolese President Felix Tshisekedi and Rwandan counterpart Paul Kagame to Washington to sign a package of deals that Massad Boulos, Trump’s senior adviser for Africa, dubbed the “Washington Accord”.

Speaking to reporters on Wednesday, Boulos said the Trump administration would “love” to hold that meeting at the end of July. But he also said U.S. officials hope to have a deal in Doha finalised by then.

SLOW PROGRESS

At a press conference on Thursday, their first since last week’s signing ceremony in Washington, an M23 official said rebel delegates would return to Doha but accused Kinshasa of not taking the process seriously.

“Since the signing of the Washington agreement, we have been contacted three times by the Qatari mediator to resume dialogue,” said Benjamin Mbonimpa, one of the M23 delegates who has taken part in the Doha dialogue.

The rebels are still insisting on progress on preconditions such as the release of imprisoned M23 fighters and the reopening of banks in rebel-held territory, he said.

Congo’s presidency said in a statement to Reuters that government delegates were also returning to Doha.

The latest report by a panel of United Nations experts, obtained this week by Reuters, said Rwanda has exercised command and control over M23 during their advance.

Rwanda has denied backing M23 militarily, and a government spokesperson said this week the report “misrepresents Rwanda’s longstanding security concerns” in eastern Congo, notably the presence of ethnic Hutu militiamen linked to the 1994 genocide.

Despite remaining hurdles to ending the long-running conflict, Boulos said on Wednesday he was “optimistic” because Tshisekedi and Kagame were serious about reaching a deal.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Minister of Energy and Green Transition, John Abdulai Jinapor

The Minister of Energy and Green Transition, John Abdulai Jinapor, has announced that the Electricity Company of Ghana (ECG) collected GH¢1.6 billion in revenue during the first six months of 2025.

Addressing Parliament on Wednesday, July 2, 2025, Jinapor described the figure as a clear improvement in ECG’s performance, although it fell short of the GH¢2.5 billion revenue target set for the period.

He noted that compared to the same period in 2024, the increase is significant.

“In June alone, ECG generated about GH¢1.6 billion, which reflects a strong year-on-year improvement in revenue collection,” he said.

The minister also announced plans to introduce a new legislative instrument in Parliament to enforce stricter penalties against individuals involved in the illegal installation of electricity meters.

Although some culprits have already faced arrest and prosecution, he believes the current sanctions are not harsh enough to deter such unlawful acts.

He stressed the urgency of implementing more severe punishments to help eliminate the practice.

DR/SA

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The President, John Dramani Mahama

President John Dramani Mahama has urged the newly appointed Justices of the Supreme Court to embody justice, integrity, and national renewal.

Speaking during the swearing-in ceremony of seven new Supreme Court Justices at the Jubilee House on Thursday, July 3, 2025, he described their elevation as a moment of national significance that speaks to both their distinguished legal careers and the broader aspirations of a nation in search of renewal.

“It is a moment that affirms your merit and experience, as well as the hopes and expectations of a nation striving to reset, renew, and rebuild. All of you come onto the Supreme Court with vast experience and a solid knowledge of the law and are deserving of this high office”, he noted.

Pointing out the judiciary’s role in Ghana’s democratic architecture, President Mahama emphasised that the Supreme Court serves as the final custodian of the Constitution and a vital safeguard for civil liberties.

“It is to this court that people turn when their freedoms are threatened, when justice seems distant, or when the complexities of modern governance test the Constitution,” he said.

He explained that the role of a Justice of the Supreme Court goes far beyond legal interpretation.

“You are called not merely to interpret the law, but to embody its highest ideals: fairness, impartiality, integrity, and courage. You are expected to serve not as arbiters of technicalities, but as stewards of justice and conscience”, he indicated.

Mahama also stressed the need for a judiciary to reflect the nation’s needs and real experiences of Ghanaians.

“The judiciary must not only speak the language of the law; it must understand the heartbeat of the nation, it must be alert to the needs of low-income individuals, mindful of the struggles faced by our women and children, and sensitive to the anxieties of our citizens who feel excluded, unheard, or unseen”, he added.

The seven new Justices, whose appointments followed parliamentary approval and vetting processes are Justice Sir Dennis Dominic Adjei, Justice Gbiel Simon Suurbaareh, Justice Senyo Dzamefe, Justice Kweku Tawiah Ackaah-Boafo, Justice Philip Bright Mensah, Justice Janapare Bartels-Kodwo, and Justice Hafisata Amaleboba.

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The Ghana Tourism Authority (GTA) has officially launched the Ghana Tourism Report 2024 at the Accra Tourist Information Centre (ATIC) on Thursday, July 3, on the theme, “Growth and Sustainability”.

The event brought together stakeholders from the tourism industry, government officials, and other key players to discuss the sector’s progress and future plans.

In an address, Acting CEO of GTA, Maame Efua Houadjeto, emphasized the importance of the report in showcasing the sector’s achievements and challenges.

 She highlighted that despite global and regional economic pressures, Ghana’s tourism sector maintained a strong growth in 2024, with a significant increase in international arrivals, notable growth in domestic tourism, and continued diversification of product offerings.

She attributed the sector’s success to targeted marketing campaigns, strategic partnerships, and enhanced digital platforms, particularly the “See Ghana, Eat Ghana, Wear Ghana, Feel Ghana” campaign. She also noted the authority’s efforts to intensify collaboration with the private sector, invest in training and certification of tourism practitioners, and improve regulatory compliance.

“Tourism continues to serve as a powerful tool for economic transformation, social cohesion, and national branding. 

“The 2024 Tourism Report is a product of diligent research, data collection, and stakeholder collaboration and it captures the full breadth of our achievements, lessons learned, and the opportunities that lie ahead,” she said. 

The report highlights several key achievements, including:  Increased international arrivals: Ghana’s tourism sector recorded a significant increase in international arrivals in 2024 and notable growth in domestic tourism with Ghanaians exploring their own country and contributing to the sector’s revenue.

The report also mentioned that the sector continued to diversify its product offerings, with a focus on sustainable tourism practices, eco-tourism, and community-based initiatives and strategic partnerships which had the GTA intensify its collaboration with the private sector, investing in training and certification of tourism practitioners and improving regulatory compliance.

However, the report also acknowledges existing challenges, including:

– Inadequate access to some tourism sites: Some tourism sites lack adequate access, hindering the sector’s growth and development.

– Need for improved customer service: There is a need for improved customer service and regional disparities in tourism development.

In a keynote address, Deputy Minister of Tourism, Culture and Creative Arts, Yussif Issaka Jajah, Deputy explained the importance of data-driven decision-making in the tourism sector. 

He described the report as a mirror reflecting the sector’s progress, pinpointing challenges, and guiding strategic decisions.

The Deputy Minister highlighted the sector’s potential to create jobs, promote investment, strengthen cultural identity, and foster mutual understanding among people. 

He noted that the report offers valuable insights into arrivals, revenue, domestic tourism trends, employment generation, visitor satisfaction, and the sector’s contribution to Ghana’s GDP.

He also disclosed that the Ministry of Tourism, Culture and Creative Arts, in collaboration with its stakeholders, was focusing on improving the National Tourism Development Plan. 

“The sector’s development is a shared responsibility, and the Ministry is calling on local government, traditional authorities, industry leaders, and every Ghanaian to see themselves as custodians of Ghana’s culture and heritage and ambassadors,” he said. 

The Ghana Tourism Report 2024 provides a comprehensive overview of the sector’s progress and challenges, offering valuable insights for stakeholders and policymakers. 

For instance, domestically, Ghana’s tourist sites saw a significant uptick, with 1.68 million visits recorded, representing a 19% increase from 2023. 

The Kwame Nkrumah Memorial Park remained the most popular attraction, while nature lovers continued to flock to Kakum National Park and Bunso Arboretum.

Minister of Finance, Dr Ato Forson

The government has attested that it is completely up to date on all planned Eurobond debt service payments for the fiscal year 2025.

The Finance Ministry said in a formal statement released on Wednesday: “the Government of Ghana has, through the Bank of Ghana, successfully effected a payment of US$349,523,674.56 in respect of Eurobond debt service obligations today, Thursday, July 3, 2025.”

According to the Ministry, the government of Ghana has paid US$1,174.64 million in Eurobond debt service since the end of the country’s Eurobond debt restructuring in October 2024.

The breakdown of these payments is as follows:

• “In October 2024, the government made an initial payment of US$475.60 million, covering obligations due under the restructuring agreement, including the first post-restructuring debt service.”

• “In January 2025, the government paid US$349.52 million.”

• “And now, in July 2025, a further US$349.52 million has been paid.”

The statement confirmed that “this brings Ghana fully up to date on all scheduled Eurobond debt service obligations for 2025.”

Looking ahead, the Ministry disclosed that “a total debt service of US$1,409.06 million is scheduled” for 2026.

The statement further emphasised that “this timely payment reaffirms Ghana’s commitment to macroeconomic stability, prudent debt management, and constructive engagement with external creditors.” It added that the development is expected to:

• “Positively influence Ghana’s credit ratings trajectory in the months ahead, as it demonstrates continued discipline in debt servicing post-restructuring.”

• “Boost investor confidence in Ghana’s sovereign credit profile and economic recovery programme.”

• “Support foreign exchange market stability, as it has been incorporated into the Bank of Ghana’s reserves and liquidity management strategy.”

The Ministry reaffirmed to the public and outside partners Ghana’s continued commitment to repaying its debts in accordance with the conditions of the restructuring agreement and its larger macroeconomic recovery plan.

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President John Mahama

Government through the Bank of Ghana has successfully effected a payment of US$349,523,674.56 in respect of Eurobond debt service obligations, today, Thursday, 3rd July 2025.

In a statement issued by the Ministry of Finance indicated that since the conclusion of Ghana’s Eurobond debt restructuring in October 2024, the Government has cumulatively serviced US$1,174.64 million in Eurobond debt .
Payments include the initial payment of US$475.60 million in October 2024, covering obligations due under the restructuring agreement, including the first post-restructuring debt service.

Also,January 2025, the government paid US$349.52 million. And now, in July 2025, a further US$349.52 million has been paid. This brings Ghana fully up to date on all scheduled Eurobond debt service.

Looking ahead to 2026, the statement added that a total debt service of US$1,409.06 million is scheduled, while indicating that it will ensure prudent debt management, and constructive engagement with external creditors.

“This timely payment reaffirms Ghana’s commitment to macroeconomic stability.
It is expected to positively influence Ghana’s credit ratings trajectory in the months ahead, as it demonstrates continued discipline in debt servicing post-restructuring.

Boost investor confidence in Ghana’s sovereign credit profile and economic recovery programme. Support foreign exchange market stability, as it has been incorporated into the Bank of Ghana’s reserves and liquidity management strategy” the statement added.

By Prince Fiifi Yorke