The Chamber of Bulk Oil Distributors (CBOD) has demanded for the enactment of laws to depoliticize the appointment of top executives to the National Petroleum Authority (NPA).
The CEO for the chamber, Senyo Hosi, said the move will ensure total independence of the regulator in the petroleum downstream sector.
“We have issues with consistency; we also have real issue of competence, because some of these appointments are just based on politics, we have a good regulator [and] a forward looking minister but that could always change,” Hosi told Starr Business.
He stressed the problem is being compounded with lack of security of the tenure for the officials appointed to the NPA.
Hosi stated: “You have the regulator appointed by the president, he has no security of tenure, the board minus one or two people are all appointed by the president. When a president changes everything changes”.
He added the development if not addressed urgently will continue to have effect on the economic businesses in the petroleum sector.