SML helped us increased revenue by 33% in downstream petroleum sector – GRA

The Ghana Revenue Authority (GRA) has come to the defence of its collaboration with Strategic Mobilisation Ghana Limited (SML) following recent exposé about the contract between the Ministry of Finance, SML and the Ghana Revenue Authority.

According to the authority, SML has helped them increase revenue in the downstream petroleum sector from 350 million litres per month in 2018 and 2019, to 450 million litres per month from 2020/2021.

This, according to the authority, represents about 33% in increments in volume reporting.

This comes in after an investigation piece by an Accra-based media house accused the Ministry of Finance of awarding a $100 million contract to SML to monitor Upstream Petroleum Production and to Audit the value chain of Minerals and Metals Resources.

In a statement issued by the GRA on Wednesday, it said “The work of SML over the period has led to a significant increase in the figures reported in the downstream petroleum sector, from an average of 350 million litres per month in 2018 and 2019, to 450 million litres per month from 2020/2021. This represents over a thirty- three per cent (33%) increase in volume reporting and an average of an extra 100 million litres per month at a levy rate of GHS1.44p."

“The extra revenue variance gained for the two (2) years will exceed GHS3 billion. This performance is attributable mainly to the introduction of ICUMS and SML systems,” it stated.

Read the GRA's statement below:

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