The Metropolitan Chief Executive of Tema, Hon. Yohane Amarh Ashitey, has called attention to what he says is magic that is happening as a result of Vice President Mahamudu Bawumia’s gold for oil barter program.
Responding to the Vice President’s announcement that fuel prices will further be reduced as a result of the program, he wrote that the magic has already begun happening and that Vice President Bawumia deserves to be heavily commended for it.
“Like Vice President Bawumia said, fuel prices have reduced from ¢23 per litre to around ¢12 per litre. The magic is already happening on the ground,” Hon. Yohane Amarh Ashitey wrote.
As a result of the positive effect the policy has brought to bear on fuel prices so far, the MCE added that Vice President Bawumia’s promise that fuel prices will further reduce can be believed.
“This man is not speaking in a vacuum, already the results are available for all to see. Therefore, his promise is absolutely believable,” he added.
On March 15th 2023, Vice President Bawumia promised that the reduction in fuel prices as a result of the gold for oil barter program will continue in the coming days with fuel prices reducing further.
“As a result of the policy, we have not only seen a decline in the price from ¢23 per litre to around ¢12 per litre. We have also seen stability in the exchange rate as we predicted”, he explained.
The gold for oil program, the MCE adlibbed, is a game changer for Ghana’s forex and currency depreciation problems as it will ultimately beat down the price of fuel which is key to the exchange rate problems.
“Once we have this fixed, our economy will be transformed forever, and already, we are seeing results with the reduction in fuel prices,” the Tema MCE wrote.
He reiterated calls for Ghanaians to keep supporting the government and trusting it to steer the country out of the current conundrum.
“Like His Excellency President Akufo-Addo has said in the past, we know how to bring the economy back on its feet but we do not have the means to bring people back once they die.” Hon. Yohane Amarh Ashitey wrote.