Accra, Ghana – May 12, 2024 – Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has strongly refuted claims made by Nana Akomea, Chairman of the New Patriotic Party (NPP) Select Committee on Communications, asserting that Ghanaians do not benefit from economic stability. Kwakye Ofosu characterized Akomea’s statements as politically motivated and disconnected from the current economic realities facing the nation.
Dismissing Opposition Claims
Speaking on Joy FM’s Top Story, Kwakye Ofosu directly addressed Akomea’s assertion that “Ghanaians do not eat stability.” He questioned the opposition’s logic, asking if they implied Ghanaians consume instability instead. Kwakye Ofosu emphasized that while criticism is expected from the opposition, it must be grounded in factual evidence and sound reasoning.
“There’s nobody in Ghana who can say that the economy we are in today is worse than what we inherited. And that cannot be argued by any stretch of the imagination,” Kwakye Ofosu stated, highlighting his administration’s efforts to improve the economic landscape.
Highlighting Economic Turnaround
Kwakye Ofosu presented data to counter Akomea’s narrative, recalling a period under the previous government where inflation reportedly surged to 54 percent. He also pointed to a historical depreciation of the national currency, the cedi, and lending rates exceeding 30 percent as indicators of past economic hardship.
In contrast, the current government, he argued, has successfully reversed these negative trends. He cited a stable exchange rate, a noticeable decrease in fuel prices, and subsequent reductions in transport fares as tangible evidence of economic progress that directly benefits ordinary citizens.
Tangible Benefits for Citizens
Providing specific examples, Kwakye Ofosu noted that fuel prices, which previously ranged between GH¢20 and GH¢23 per litre, have now stabilized around GH¢15 per litre. He questioned how this significant reduction could be interpreted as not translating into savings for the average Ghanaian consumer.
Furthermore, he explained that a stronger cedi has helped lower import costs. This reduction in import expenses, in turn, has led to decreased duty payments, contributing to a general downward adjustment in the prices of various goods, although he acknowledged that some prices have been slower to reflect these changes.
The Minister also highlighted a 16 percent reduction in transport fares implemented last year as another direct outcome of the improved economic conditions. He stressed that these savings directly impact the disposable income of citizens.
Critique of Opposition’s Stance
Kwakye Ofosu concluded by criticizing the NPP’s stance, describing their dismissal of these economic improvements as inaccurate and purely political maneuvering. He asserted that their narrative lacks substantive backing and fails to acknowledge the positive developments within the Ghanaian economy.
The debate underscores the ongoing political discourse surrounding economic management in Ghana, with both major parties seeking to frame the current situation according to their respective platforms and performance records. As the nation navigates its economic path, public perception and the tangible impact of policies on daily life remain key points of contention.
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