Founding President of IMANI Centre for Policy and Education, Franklin Cudjoe, has commended the ongoing turnaround efforts at the Tema Oil Refinery (TOR), describing the early signs of recovery as impressive and worthy of national support.
In a candid reflection after a visit to the refinery, Mr Cudjoe stated that the new Managing Director, Edmond Kombat, is steering one of Ghana’s most troubled state enterprises toward a path of revival after years of mismanagement, neglect and political interference.
According to Mr Cudjoe, the new TOR leadership inherited “a moribund, debt-soaked institution and a demotivated and partisan ageing staff” whose morale had plummeted after years of abuse and financial indiscipline.
He said TOR’s debt, which had ballooned to nearly $500 million, was the result of what he called “crookish highway paper robbery by kith and kin of the last guy who was also the Jubilee House overlord.” This situation, he argued, had left the refinery structurally weak and nearly incapable of functioning.
However, after his engagement with the new management, Mr Cudjoe said he observed tangible signs of progress. He described Kombat as “younger, focused, and slowly breathing life into an asset I would long have sold to competent private hands.”
He noted that instead of borrowing more money or relying on costly external support, the new leadership is retrofitting sections of the refinery using internally generated funds, a development he found both surprising and commendable.
“He is restructuring the debt iceberg he met, thawed a little in a few million saved,” Mr Cudjoe wrote, adding that the testimonies from TOR’s technical staff confirm “a respectable turnaround.”
The IMANI President also acknowledged the contribution of energy sector expert Nana Amoasi VII, Chief Executive Officer of the Institute for Energy Security (IES), whom he described as one of the technically grounded figures supporting the refinery’s recovery process.
According to Mr Cudjoe, such expertise offers the new TOR management a strong foundation for decision-making and operational clarity during this critical revival phase.
Caution to MD
Mr Cudjoe, however, did not leave the refinery without offering advice. In his remarks to Managing Director Edmond Kombat, he urged him to prioritize integrity and responsibility above all else.
“Leave a legacy through effective and efficient leadership so your children, family, and village would not be shamed as others who looted state funds have rendered theirs,” he cautioned. This, he noted, should guide the refinery’s new direction and help restore public confidence in one of Ghana’s most historically significant industrial assets.
TOR’s revival has become a major policy priority for the current administration, which views the refinery’s restart as essential to reducing Ghana’s heavy reliance on imported petroleum products.
Ghana spends an estimated $10 billion annually on fuel imports, a cost burden that has contributed to foreign exchange pressures and volatility in the cedi. The government’s objective is that a fully functioning TOR will help cut these imports, conserve foreign currency, and support broader economic stabilization efforts.
The refinery, which had been shut down for several years due to operational failures, financial challenges, and stalled maintenance, is now in the final stages of its long-awaited turnaround.
Crude oil was scheduled to arrive in the third week of October 2025, with refining expected to begin shortly afterward. By mid-October, the Turnaround Maintenance Committee was set to hand over the plant to the production unit, signaling that the technical phases of rehabilitation were largely complete.
One of the most celebrated aspects of the revival is the role played by Ghanaian engineers and technicians. Unlike previous attempts that relied heavily on foreign technical assistance, the ongoing turnaround has been executed primarily by local professionals. This development has been hailed as proof of Ghana’s growing engineering capacity and a milestone in the country’s industrial self-reliance.
Mr Cudjoe’s endorsement adds a notable external validation to the refinery’s progress, especially given IMANI’s longstanding reputation for demanding transparency and accountability in public institutions. His remarks suggest cautious optimism—recognizing TOR’s troubled past but acknowledging that the current steps represent a break from years of inefficiency.
The IMANI President reiterated that much of TOR’s future success will depend on discipline, ethical leadership, and sustained technical competence rather than political rhetoric.
In his view, the ongoing progress demonstrates that with the right leadership and professional autonomy, TOR can again contribute meaningfully to Ghana’s energy security and economic recovery.
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