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Ghana secures $13m grant from Japan for Tamale electricity stabilization

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The Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, has revealed that he has signed an Exchange of Notes with the Japanese Ambassador to Ghana, His Excellency Yoshimoto Hiroshi, unlocking a generous grant of 1.92 billion Japanese Yen (approximately US$13 million) for the stabilization of electricity supply in Tamale City.

In his post, Mr Ablakwa expressed his satisfaction in securing the grant, emphasising its potential to significantly improve the electricity infrastructure in Tamale, a major urban centre in the Northern region.

The grant, which will be used for the enhancement and stabilization of the city’s power supply, is seen as a crucial step in addressing the growing demand for reliable electricity in the region.

This project and many others under discussion highlight the outstanding bond of friendship between Ghana and Japan,” Mr Ablakwa wrote.

 

Source: Myjoyonline

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General News

Two Fire Officers Injured in Secondary Explosion at Potsin Tanker Fire

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Two personnel of the Ghana National Fire Service (GNFS) have sustained injuries following a secondary explosion during efforts to contain a tanker fire at Potsin Junction in the Central Region.

The incident occurred in the early hours of Tuesday, March 17, 2026, along the Kasoa-Winneba Road, where emergency teams had been working to control a blaze involving a fuel tanker.

According to reports, the situation escalated after the fire, which appeared to be under control, suddenly reignited. Moments later, a secondary explosion occurred, raising fresh safety concerns and forcing authorities to cordon off the area.

Eyewitnesses described the explosion as sudden and intense. One survivor recounted that a spark from the tanker triggered a massive fireball within seconds, leaving little time for those nearby to react.

The two injured fire officers were caught in the impact zone while actively working to suppress the flames. Reports indicate that the force of the blast threw one officer off the fire tender, while another, who was positioned on top of the vehicle, fell to the ground during the explosion.

Both officers were rushed to a nearby hospital and are receiving treatment. No fatalities have been officially confirmed as of the time of this report.

The incident has unsettled residents in the Potsin Junction area, with some reported to be in shock following the explosion. Authorities say the tanker has continued to reignite intermittently, complicating firefighting efforts and increasing the risk of further explosions.

A correspondent from Adom News in the Central Region reported that the tanker was still burning at the time of filing, highlighting the ongoing challenges faced by emergency responders.

The Ghana National Fire Service has since deployed additional personnel from nearby stations to support containment efforts and ensure the tanker is fully extinguished.

Meanwhile, the full extent of damage to property and the number of people affected by the fire and smoke remain unclear.

Motorists are being advised to avoid the Kasoa-Winneba stretch or proceed with caution, as emergency teams maintain a strong presence at the scene.

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World Bank Group Warns of Growing Youth Employment Gap Amid Skills Mismatch

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The World Bank Group has raised concerns over a potential widening employment gap as an estimated 1.2 billion young people are expected to enter labour markets across developing countries within the next decade.

Paschal Donohoe, Managing Director and Chief Knowledge Officer of the institution, cautioned that many of these young entrants may lack the skills required by employers, largely due to a growing disconnect between education systems and rapidly evolving labour market demands.

Speaking at the Vice Chancellor’s Occasional Lecture Series at the University of Ghana on Monday, March 16, he described the situation as a pressing global challenge. He noted that the issue extends beyond job availability to concerns about productivity and income levels, particularly for young people already engaged in work but struggling to advance economically.

He further observed that the nature of jobs is changing quickly, with roles expected to evolve significantly over the next decade. According to him, skills that were once adequate are becoming increasingly outdated, underscoring the need for continuous adaptation.

Paschal Donohoe indicated that the World Bank Group is focusing its development agenda on improving education and skills training, promoting job creation, and supporting entrepreneurship. He explained that current efforts aim to strengthen foundational learning, better align higher education with labour market needs, and expand opportunities for young people to access meaningful employment.

He added that equipping individuals with relevant skills and opportunities remains essential to enabling them to reach their full potential in a changing global economy.

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Fuel Prices Set for Sharp Increase From March 16 as Global Oil Prices Surge

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Fuel prices in Ghana are expected to rise sharply beginning March 16, 2026, according to the latest pricing outlook released by the Chamber of Oil Marketing Companies (COMAC).

The report, which guides pricing decisions for oil marketing companies and was sighted by JoyBusiness, projects significant increases across major petroleum products. Petrol is expected to rise by 16.93 percent, while diesel could increase by 17.21 percent. Liquefied Petroleum Gas (LPG) is also projected to go up by 11.26 percent.

If the projections hold, the price of petrol could reach about GH¢14.32 per litre, while diesel may sell at approximately GH¢16.10 per litre at the pump.

Fourth Increase Since January

This will mark the fourth projected fuel price increase since January 2026. However, it is expected to be the steepest increase recorded this year for petroleum products.

Global Factors Driving the Increase

COMAC attributes the anticipated price surge mainly to rising global crude oil prices. The increase has been influenced by escalating geopolitical tensions in the Middle East and disruptions along the strategic oil shipping corridor known as the Strait of Hormuz.

The supply disruptions have pushed international petroleum prices upward. According to the report, diesel prices on the international market rose by about 43 percent, LPG increased by 23.96 percent, and petrol climbed by 19.41 percent.

Crude oil prices also recorded a sharp jump in mid March, rising from 71.41 dollars per barrel to 86.55 dollars per barrel.

Oil Marketing Companies Yet to Announce Final Prices

Some Oil Marketing Companies (OMCs) have indicated to JoyBusiness that they are likely to adjust their pump prices within the projected margins once the new pricing window takes effect.

Market watchers are particularly waiting to see the pricing decisions of the country’s two largest players, Star Oil and GOIL, whose price adjustments often influence the rest of the market.

Ghana currently has more than 200 licensed Oil Marketing Companies.

New Minimum Price Floors Announced

Meanwhile, the National Petroleum Authority (NPA) has announced new minimum price floors for petroleum products for the second pricing window of March, covering March 16 to March 31.

Under the revised benchmarks:

Petrol price floor has increased from GH¢10.46 to GH¢11.57 per litre

Diesel price floor has risen from GH¢11.42 to GH¢14.35 per litre

LPG price floor has moved up from GH¢9.38 to GH¢10.67 per kilogram

The NPA has directed all Oil Marketing Companies and LPG Marketing Companies to comply strictly with the new price thresholds.

According to the regulator, the approved price floors exclude premiums charged by International Oil Trading Companies as well as margins for Bulk Import, Distribution and Export Companies, marketers, and dealers. These costs will be determined independently by the companies in line with the Petroleum Products Pricing Guidelines.

With the new benchmarks in place, no oil marketing company will be allowed to sell petrol or diesel below the approved price floors during the pricing window.

The revised figures also provide an indication of expected pump prices across the country when the new fuel pricing regime takes effect on March 16.

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