Business News of Tuesday, 19 March 2024

Source: www.ghanaweb.com

Increment in GNPC management allowances reasonable - Freddie Blay

Freddie Blay, Board Chairman of the Ghana National Petroleum Corporation (GNPC) Freddie Blay, Board Chairman of the Ghana National Petroleum Corporation (GNPC)

Freddie Blay, the Board Chairman of the Ghana National Petroleum Corporation (GNPC), has stated that the corporation's recent increases in allowances for their management members are reasonable and approved.

Freddie Blay, who is also a former National Chairman of the New Patriotic Party (NPP), rebuffed claims that the increases were excessive.

He emphasized that these adjustments were implemented two years ago, contrary to assertions made by North Tongu MP, Samuel Okudzeto Ablakwa, who suggested they occurred in 2024.

Samuel Okudzeto Ablakwa took to social media platform X (formerly known as Twitter) to allege that GNPC management had raised their allowances by as much as 150 percent, citing intercepted memos indicating a rise in daily hotel rates from $400 to $1000, depending on the destination.

However, Freddie Blay countered these allegations, stating that any changes in allowances were reasonable and had been collectively agreed upon by GNPC.

He stressed that the adjustments were not extravagant and were made with careful consideration of the prevailing circumstances.

"GNPC agreed unanimously to increase allowances, and it was not excessive. It was not unreasonable. This decision was made in 2022, so if someone is complaining about it and making it seem like it happened in 2024, they are only exploiting these reasonable increases for their own gain," Freddie Blay said in an interview with GHONE TV.

The Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, had criticized the Nana Addo Dankwa Akufo-Addo government and the leadership of the Ghana National Petroleum Corporation (GNPC) over its failure to respond to his claims of an over 150% increase in the allowances of the leadership of the corporation.

Samuel Okudzeto Ablakwa, in a post shared on X, on Wednesday, March 13, 2024, said that it had been more than a day since he blew the alarm on the increase in allowances but there had been no response from either the government or the GNPC.

He said that the silence of the government and GNPC on the matter was deafening.

“It’s been more than 24 hours — the silence of GNPC and government is very loud,” he wrote.

The North Tongu legislator, in a post shared on X on Tuesday, March 12, 2024, said that while the country was in economic turmoil and Ghanaians have been asked to sacrifice, the leadership of the GNPC were rather increasing their allowances.

He said that GNPC documents show that the allowances for a day’s hotel rate of the Chairman of the Board of the company, Freddie Blay; its Chief Executive Officer (CEO), Opoku Ahweneeh Danquah; and other members of the board and management were increased from 400 to 1000, either in dollars, euros or pounds, depending on the country of destination.

NAY/AE

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