Economist and political risk analyst Dr. Theophilus Acheampong has suggested that the government may soon reintroduce the suspended GH₵1 energy levy due to ongoing financial stress in Ghana’s energy sector and rising global geopolitical tensions.

Speaking on JoyNews’ AM Show, Dr. Acheampong indicated that senior government officials — including the Finance and Energy Ministers — are likely reassessing the fiscal impact of recent global developments, particularly instability in the Middle East.

“I believe the Finance Minister, the Energy Minister, and their team are reviewing the situation. I wouldn’t be surprised if the GH₵1 levy is brought back in the coming weeks,” he stated.

The levy, which was suspended earlier this year following strong public opposition, may find renewed support if global oil prices remain elevated. Dr. Acheampong noted that some segments of the public had shown willingness to accept the charge under certain conditions.

“We’re facing serious issues in the energy sector, and something must be done,” he said, adding that the situation requires urgent policy action.

He also raised concerns about the management of past energy levies, especially under the Energy Sector Levies Act (ESLA). “There are legitimate concerns about how previously collected funds were used,” he remarked.

To build public trust, Dr. Acheampong proposed that any reinstatement of the levy should come with strong transparency measures and parliamentary oversight.

“If there are clear assurances about how the one cedi levy will be used — and if the Minister reports to Parliament — then perhaps we’ll have a way to address the current energy crisis,” he suggested.

He concluded by stressing that Ghana’s longstanding energy problems — from power generation shortfalls to rising utility debts — are reaching a critical point. He warned that further global shocks, such as escalating conflict in Iran, could worsen fuel price volatility and further strain the economy.