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Collaboration between GRA and SML: Ghana saves GH¢ in oil revenue recorded from June 2020 to June 2022

22/02/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The downstream petroleum unit of the Customs Division of the Ghana Revenue Authority (GRA) is in collaboration with Strategic Mobilization Ghana Limited (SML), a revenue and insurance audit firm. This collaboration saved Ghana 3 billion GH¢ in oil revenue from June 2020 to June 2022.

Since the advent of technology, the average volume recorded by SML meters for the white product per month is 400 million liters. It generated additional revenue for the government. According to the managing director of SML Ghana Christian Tetteh Sottie, the collaboration helped the GRA meet and exceed its annual goals. Last year, the GRA mobilized GH¢ 75.5 billion in domestic revenue, which is 3.60 billion GH¢ more than it was responsible for collecting. This collection represents an increase of 5% compared to last year's target of 71.94 billion GH¢.

It also means that domestic revenue mobilized by the GRA was 31.5% higher than that collected in 2021. noted that “stakeholder engagement brought together the various customs officials in charge of downstream oil depots in the 16 regions of the country.”

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