President of policy think tank IMANI-Ghana, Franklin Cudjoe, has described the Bulk Oil Storage and Transportation Company Limited (BOST) as an irrelevant entity draining Ghana’s resources with no value in return.
BOST has been accused of selling five million litres of contaminated fuel to a private firm for distribution to the pumps, a product industry players say has a high possibility of damaging engines of vehicles and other equipment that operate on fuel.
Commenting on the saga, Mr. Cudjoe said he is not surprised about fuel fraud allegations involving BOST, because the entity has become a drain on the fortunes of government for several years and, therefore, called on the NPP led administration not to allow itself to be duped into believing the company can ever return any real value addition.
He described the company as a huge monster which is not needed at this time in our development, saying IMANI’s extensive study in fuel fraud across Africa reveals willing state actors collaborate with non-state traders to dupe the state.
Mr. Cudjoe said the resolution has always been about the use of technology for fuel marking.
“But persistent crookish tendencies have always upstaged critical and forward looking solutions”.
He also commended the Africa Centre for Energy Policy (ACEP) for a thorough job by “exposing this canker and it is the greatest indication yet of the needlessness of BOST and the amazing deception of its true economic value to the state”.