What did the NPP use offshore and SPV funds for if not embezzlement during their term in office? -Edem Tameklo fires

Government Communicator Edem Tameklo has intensified criticism of the former NPP administration following the announcement that Tema Oil Refinery (TOR) has recorded a USD 21 million profit.

According to him, this remarkable turnaround raises deeper questions about how offshore and Special Purpose Vehicle (SPV) funds were handled during the NPP’s tenure. Mr. Tameklo argued that if the refinery could perform this well within a relatively short period under new management, then the previous administration must explain why similar results were never achieved despite the significant financial structures and resources available to them.

Speaking on GTV Breakfast show, Mr. Tameklo revealed that the NPP’s management of TOR was characterised by opacity and questionable financial decisions that left the refinery debt-ridden and underperforming.

He questioned the purpose of the offshore and SPV arrangements, insisting that the public deserves a transparent account of how those funds were utilised. According to him, the dramatic contrast between TOR’s former struggles and its present profitability suggests that the earlier failures were a result of gross mismanagement or worse.

He stressed that Ghanaians must not overlook the inconsistencies and that accountability is long overdue.

He maintained that understanding the fate of the offshore and SPV funds is essential for restoring public trust and ensuring that national assets are shielded from political abuse. The recent profit, he said, should serve as proof that with proper leadership and transparent management, TOR can contribute significantly to Ghana’s energy stability and national revenue.