GHANA:NPA will be financially viable says Mustapha Hamid

Dr Mustapha Abdul-Hamid, Newly Appointed CEO of National Petroleum Authority NPA

The chief executive officer of the National Petroleum Authority(NPA) , Dr Mustapha Hamid says one of his major priorities will be to ensure that the regulator of the downstream petroleum sector, is financially viable.

Speaking at the opening of a management retreat in Ada, Dr Abdul-Hamid said the downstream sector is an important component of Ghana’s economic success, but, if the right things are not done to ensure efficiency and robustness, the industry may struggle to contribute to the expected revenue targets for national development.

Alluding to how the banking sector suffered due to the wholesale granting of licenses, Dr Abdul-Hamid said the same approach should not be adopted by the downstream sector.

He said licenses for the establishment of petroleum retail outlets should be given to those who are willing and prepared to do business, contribute the right amount of taxes into state coffers and ensure the nation benefits.

He added that third-party activities in the industry should not be encouraged, because it undermines the integrity of the sector and the operations of those doing the right things.

Dr Abdul-Hamid also affirmed his commitment to improving the efficiency of the NPA’s operations, improving staff morale as well as building the capacity of staff to deliver on his mandate.

According to him, a united front and teamwork among staff will ensure the objectives are achieved.

Dr Abdul-Hamid also said the NPA under his leadership will deliver first-class service to stakeholders in the petroleum downstream sector.

The retreat is to review NPA’s mid-year performance and expedite planned strategies to meet its target for the year.

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