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In order to stabilize the economy and ring-fence vital funding, President John Dramani Mahama has justified the government’s decision to impose a new fee on petroleum goods, calling it “difficult but necessary.”
A new law that levied a GHS1 fee on each liter of fuel was approved by Parliament on Monday.
Speaking Tuesday at the Jubilee House at the National Economic Dialogue 2025 final report presentation, the President said the levy is reasonable and wise, albeit acknowledging that the measure has caused Ghanaians to worry.
“This was not a decision we took lightly,” he said. “Though difficult, it is necessary and justifiable.”
The Consolidated Fund, which is where public revenue is typically deposited, will not get the proceeds from the new petroleum fee, according to President Mahama. He clarified that the money will be protected from what he called the “hazards” of the consolidated fund, guaranteeing that they are utilized only for their designated uses, such as providing vital energy infrastructure and protecting the economy from outside shocks.
This strategy guarantees that the money is safeguarded and efficiently allocated to the areas that require it the most.
In order to guarantee value for money, the President also pledged to take decisive action to address what he described as systematic inefficiencies in the petroleum industry, implying more monitoring, increased responsibility, and enhanced transparency.
Government officials argue the long-term advantages, such as economic stability and investment in energy resilience, greatly exceed the short-term inconvenience, even if the charge is predicted to cause a slight increase in petrol costs at the pumps.
The government is currently under pressure to close income leaks, lower fiscal deficits, and find long-term ways to finance development without becoming overly dependent on borrowing from outside sources.
President Mahama expressed hope that Ghanaians will eventually understand the move’s larger purpose despite widespread skepticism.
Source: Ghanatodayonline.com
