The vice president revealed the amount of loss the government has incurred while taxing illegal petroleum. Mahamudu Bawumia disclosed this on Wednesday while launching the innovative digital Retail fuel monitoring system by Accra’s petroleum authority.
The system ensures NPA monitors fuel in OMC tanks in the whole country. It also prevents illegal activities, such as fake receipts. Any OMC tank receiving illegal fuel is tracked.
Mahamudu Bawumia said, “I am particularly delighted that the NPA is leveraging technology to improve efficiency and effectiveness in the distribution of petroleum products in the downstream petroleum industry.”
According to the vice president, the illegal activities resulted in significant losses. “It is estimated that between 2015 and 2019, the government lost GHc 4.7 billion in tax revenue due to illegal activities in the petroleum sector.”
