Our short-term thinking Ghanaian leaders only focused on making money from the fuel, oil sector – Senyo Hosi

Mr. Senyo Hosi

The Chief Executive Officer (CEO) of the Chamber of Bulk Oil Distribution (CBOD), Senyo Hosi has said Ghanaian leaders present and past have tackled the high fuel prices in the country the wrong way.

Speaking to Asaase Radio in an interview on Wednesday, March 16, 2022, the finance and economic policy analyst said leaders in the country have been too busy making money in the fuel and oil sector not to actually solve the problems.

According to Mr. Hosi, if leaders will rather focus on finding long-lasting solutions to challenges in the fuel and oil sector, the prices of petroleum at the pumps will not constantly be a headache for the citizenry.

“The main reason that most of our leaders focus on the fuel and oil sector is because they see it as an opportunity to make money; very short term thinkers.

“If we think in the long term then we would have long since fixed our railways and this would have easily mitigated much of the issues we are facing with fuel,” the CBOD CEO shared.

Mr. Senyo Hosi added, “If we think long term then it will not only impact our oil, gas, and fuel sector positively; it will also impact all the sectors that need development in our country.

“One thing that I can say is that the issue we are facing currently is one we will tackle successfully but make no mistake we will go back to making the same mistakes.”

In the midst of the ongoing agitations by Ghanaians over the current price of fuel, experts are projecting that the prices of fuel in the country could hit GHS10 per litre soon.

While the IES projects that the price of Liquefied Petroleum Gas (LPG) will go up by 3 per cent, it has disclosed that petrol and diesel would go up by 5 per cent and 9 per cent respectively.

Meanwhile, the Concerned Drivers Association of Ghana (C-DAG) is threatening to introduce drastic measures that will affect Ghanaians should the government refuse to reduce the prices of fuel in the country after a week.

The group has given the government a one-week ultimatum to scrap some of the taxes on petroleum products to bring down the prices of fuel at the pumps.