Ghana lost more than GH¢600 million in tax revenue in 2025 due to unaccounted petroleum products, according to a report by the Chamber of Oil Marketing Companies.
The 2025 Petroleum Product Analysis Report revealed that approximately 199 million litres of petroleum products—representing about 2.1 percent of total national supply—could not be accounted for within the system.
The lost revenue was expected to accrue to the state through taxes, levies, and regulatory charges on imported petroleum products.
Imports Surge, Refinery Output Declines
The report indicated that petroleum imports rose significantly in 2025, increasing by 36.7 percent to 8.71 billion litres, compared to 6.23 billion litres in 2024. This growth was driven largely by strong domestic and commercial demand.
However, domestic refinery output declined from 500,000 metric tonnes to 444,264 metric tonnes, highlighting ongoing operational challenges in the refining sector.
Exports of petroleum products also increased, rising from 524,603 metric tonnes to 658,500 metric tonnes. These were largely re-exports of petrol, diesel, and LPG to regional markets such as Burkina Faso, Mali, and Togo.
Despite the growth in exports, the report raised concerns about implications for exchange rate stability and national security, particularly due to Ghana’s heavy reliance on imports.
Imports accounted for over 90 percent of total petroleum supply in 2025, exposing the country to global oil price volatility, foreign exchange risks, and supply chain disruptions.
Illegal Diversion Suspected
The report attributed the discrepancies to possible illegal activities within the sector, despite ongoing automation and regulatory interventions.
According to the Chamber of Bulk Oil Distributors, concerns have long been raised over the transfer of refined petroleum products from depots to some modular refineries, which may create opportunities for diversion into retail outlets to evade taxes.
The findings were based on a reconciliation analysis of Ghana’s national petroleum stock, which uncovered the 199 million litres of unaccounted fuel.
Calls for Stronger Oversight
The Chamber of Oil Marketing Companies has called for stricter monitoring and improved accountability across the petroleum value chain.
It warned that the fiscal impact could exceed current estimates if stronger verification systems are not implemented.
The report underscores the urgent need for enhanced regulatory oversight to safeguard government revenue and ensure transparency within the sector.
