Former President John Mahama has attributed the challenges facing the Tema Oil Refinery (TOR) to its status as a state-owned enterprise.
In a meeting with downstream petroleum sector players on Tuesday, May 21, Mr. Mahama discussed TOR's operations and expressed his commitment to revamping the refinery if elected in the 2024 presidential elections.
"Our problems with running the refinery stem from it being a state-owned enterprise," Mahama said in a Facebook post on Wednesday, summarizing the discussions.
As a state-owned company, TOR is burdened with bureaucratic inefficiencies and lacks the flexibility of private owners to make commercially-driven decisions, according to Mahama.
He believes a public-private partnership is needed to attract investment and expertise from the private sector.
“I am open to a private partnership in revitalising TOR," Mahama wrote.
The refinery, which is the sole crude oil processing plant in Ghana, has struggled with operational challenges in recent years.
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