Ghana’s ruling party, the New Patriotic Party says it has brought life back to the country’s strategic stock oil company, BOST.
According to the party, the current administration led by President Akufo-Addo has repositioned BOST on a better path than they inherited from the previous administration led by John Dramani Mahama.
The then opposition New Patriotic Party (NPP), in its 2016 Manifesto, promised to redirect BOST to focus on its core mandate of protecting the country’s strategic petroleum reserves if voted into power.
According to the governing party, it has fulfilled this manifesto promise.
“We have restructured BOST accordingly,” the governing party said in its 2020 Manifesto which was outdoored on August 22, 2020, in Cape Coast in the Central Region.
The NPP said: “When the NDC left office, BOST owed US$624 mllion to suppliers, BDCs and related parties.”
It, however, said under the NPP, as at February this year, the outstanding debt stood at $57 million.
The government claimed that BOST was running significant net losses between 2013 to 2016, reaching a net loss of GHS569 in 2016.
According to NPP, under the tenure of President Akufo-Addo, BOST witnessed a significant 70 percent reduction in losses in 2018 and a further 41 percent in 2019.
BOST recently commenced repair works on its Buipe-Bolga pipelines.
The 270km pipeline, which was used to transport fuel to the northern part of the West Africa nation, as well as neighbouring Burkina Faso, had been out of use for many years because of its poor state.
However, work commenced on the pipeline in June this year.
A video sighted by energynewsafrica.com showed engineers and personnel from the Ghana National Fire Service working on the pipeline.