Senyo Hosi Berates ESLA Plc Over Missing GH₵1Billion

…As He Urges Administrators To Be Cautious

The Chief Executive Officer (CEO) of the Ghana Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi has said the Chamber is unaware of any exemptions granted any industry outside of the E.S.L.A Plc Act and does not deny possibility of same.

He is calling for an independent public enquiry as well as a forensic audit of the E.S.L.A receipts for 2016 and 2017 to ensure that Ghana has not been short-changed by petroleum service providers and/or corrupt officials in the various government agencies.

CBOD’s 2017 Industry Report

CBOD, in its analysis of the National Petroleum Authority’s (NPA) data on the performance of oil marketing companies shows that government failed to account for GH¢576.63million for 2016 and GH¢339.16million for 2017 of ESLA receipts.

The CBOD in their latest report claimed that almost Gh₵1bn of petroleum taxes relating to the Energy Sector levies introduced to help clear government’s indebtedness to bulk oil distributors cannot be accounted for.

ESLA Plc Challenge Claims

However, E.S.L.A Plc is challenging the highlights of CBOD’s reports that whiles these amounts may have been derived by taking the gross volumes of petroleum products consumed into consideration, a pertinent factor relating to exemptions that have been granted for certain volumes lifted were ignored.

It added that the gross volumes which formed basis of the computations by CBOD were based on the Oil Marketing Companies (OMCs) Performance Statistics report published by the National Petroleum Authority (NPA).

“Whilst this data accurately reflects volumes of the petroleum products consumed, they cannot in their entirety be used for the computation of taxes and levies as they do not discount the volumes of petroleum products that are eligible for levy and tax exemptions by law,” the statement noted.


Mr. Hosi noted that USLA Plc is neither the collector/reporter of E.S.L.A receipts nor the mouthpiece for government agencies from 2016 to date.

According to him, the Chamber does not find it in E.S.L.A Plc’s place to speak to revenue leakages in respect to smuggling, export dumping and transfer pricing.

Mr. Hosi further warned that the U.S.L.A Plc is beginning to tamper with its integrity and further urged its administrators to be cautious.

As an industry body with deep policy analysis, he posited that it is in no way their aim to jeopardise confidence in the energy bonds. We rather wish to awaken responsibility on the part of all to further deepen confidence.

Source: ModernGhana