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Tema Oil Refinery Should Be Divested Due to Poor Management, Says Energy Expert

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Benjamin Boakye, the Executive Director of the African Center for Energy Policy (ACEP), has criticized the Ghanaian government for mismanaging the Tema Oil Refinery (TOR). Speaking on TV3’s Midday Live, Boakye stated that TOR should be divested since it appears the government has failed in managing it. According to him, the fundamental problem of TOR is poor management, which has persisted over the years, as politically appointed managers have only worked to make money for themselves.

This criticism comes after the Minister of Energy, Dr Matthew Opoku Prempeh, indicated that the Refinery cannot continue to benefit from government subvention. He further stated that it will be burdensome on the government to continue to invest in TOR as there is a $500 million debt at the facility. Boakye, however, believes the problem at TOR has to do with the appointments to the leadership positions at the facility. He suggested that the private sector should be brought in so that the refinery can function as a proper commercial enterprise that generates revenue and not debt.

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The energy expert emphasized that if the private sector was given the opportunity to manage TOR, Ghanaians would no longer have to pay the TOR Recovery Levy, which has been in place for more than 15 years. He further argued that distinguished workers, who are among the over 800 workers at the facility, can manage TOR well if given the opportunity, so long as a serious person leads them. Boakye’s opinion on the matter is that if the government is not willing to make TOR function as a commercial enterprise to benefit the people, then it should let it go.

Source: TV3 Ghana

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