Policy analyst Dr. Peter Terkper has criticised Ghana’s continued reliance on fuel imports, urging the establishment of a strategic reserve to shield the economy from global price shocks.
Speaking on Morning Target, Dr. Terkper argued that Ghana should maintain at least a year’s worth of fuel reserves to cushion against disruptions. His call comes amid sharp increases in petrol, diesel, and LPG prices.
“It is unfortunate that we have not learned from past experiences. Ghana imports virtually all its petroleum products petrol, diesel, and even crude oil for refining. Until recently, with TOR resuming operations, we have had no domestic buffer,” he noted.
“As a government and as a nation, we should be able to build a strategic reserve for a year. This is the kind of intervention developing economies must adopt to hedge against geopolitical shocks that destabilize markets,” he added.
