Ghana has too many oil marketing companies, Mr Henry Akwaboah, outgone chairman of the Association of Oil Marketing Companies has observed.
The former MD of Engen Ghana Limited told Class91.3FMâ€™s Kofi Oppong Asamoah on the Class Morning Show on Tuesday, 10 August 2021 tat: â€œAt the last count, I think we had 170 OMCsâ€.
â€œIf you look at a country like Ghana with our population, the vehicle population and all that, in my candid opinion, we have too many players in thereâ€, Mr Akwaboah stressed.
The current situation, he noted, â€œhas led to a certain situation whereby the stock turnaround of some oil service stations takes longerâ€.
â€œSo, for example, you are supposed to pay the GRA in 21 days when you lift products but some OMCs are not able to pay in 21 days because they are still sitting with stock and, for me, itâ€™s a situation that we have created that needs to be looked atâ€, he observed.