Ghana's President Defends Controversial Fuel Levy

Ghana's President Defends New Petroleum Levy: A Necessary Evil for Economic Stability? Ghana's President John Dramani Mahama recently defended the government's controversial decision to introduce a new GHC1 levy on petroleum products. The levy, approved by Parliament, aims to address the nation's energy sector challenges and stabilize the economy. "This decision, though difficult, is necessary and justifiable," stated President Mahama during a parliamentary address. The funds generated will be used to pay off legacy debts in the energy sector, preventing future power shortages. The government projects an additional 5.7 billion cedis in annual revenue. The move has sparked debate, with concerns raised about its impact on households and businesses. However, President Mahama assured Ghanaians that the decision was not taken lightly and that the government will continue working to improve efficiency in the energy sector. The transparent use of these funds will be ensured through regular audits and the publication of audit reports. This initiative highlights Ghana's commitment to long-term economic stability and energy security.