Okaikwei Central MP Patrick Boamah has alleged that Ghana was on the verge of settling two tax disputes with Tullow Ghana Limited for approximately $150 million. According to Mr. Boamah, the settlement attempts were made after the NDC government took office in June 2025. Tullow and Ghana attempted to settle the tax arbitration along with another dispute concerning the company's insurance claim.
Mr. Boamah stated that the government entered into proposed Terms of Settlement, which would have accepted about $150 million to settle the two tax claims involving the Ghana Revenue Authority. However, he alleged that the settlement was halted due to a "last-minute intervention" by lawyers within the Ministry of Finance. This intervention reportedly prevented the Finance Minister, Dr. Cassiel Ato Forson, from signing his part of the agreement.
Tullow's 2025 annual report confirms that the company had two disputed Ghana tax assessments, both referred to international arbitration in 2023. The report also states that the parties engaged in settlement discussions. In its latest 2026 reporting, Tullow continues to engage with the Ghanaian government and the GRA towards a mutually acceptable resolution of the tax disputes.
Mr. Boamah expressed appreciation for the role of civil servants in preventing the settlement, writing "Kudos to those civil servants!" on his Facebook post. The MP is also the Chairman of Parliament's Finance Committee. His comments come after a recent arbitral ruling in favor of Ghana in the tax dispute with Tullow.
The tax disputes between Tullow and Ghana have been ongoing for some time. In 2023, both parties were engaged in international arbitration. The recent arbitral ruling in favor of Ghana marks a significant development in the case. Further details of the ruling have not been disclosed.
Patrick Boamah has also credited Godfred Dame for Ghana's victory in the $400m Tullow tax arbitration. His comments suggest that the government is committed to resolving tax disputes in the country's favor. The outcome of the Tullow tax dispute may have implications for Ghana's business environment and investment climate.
The Ghanaian government's efforts to resolve tax disputes and engage with international companies are crucial for the country's economic development. The outcome of the Tullow tax dispute may set a precedent for similar cases in the future. Key parties involved in the dispute have not made further comments on the recent arbitral ruling.
Key points
- Ghana was close to settling two tax disputes with Tullow Ghana Limited for $150m before a recent arbitral ruling in favor of the country.
- The settlement attempts were halted due to a "last-minute intervention" by lawyers within the Ministry of Finance.
- Tullow continues to engage with the Ghanaian government and the GRA towards a mutually acceptable resolution of the tax disputes.
