John Dramani Mahama, flag bearer of the National Democratic Congress (NDC), has slammed the Akufo-Addo administration for being the government that has reaped the highest revenue and yet got nothing to show for.
According to Mahama, the revenue accumulated by this government is higher than the aggregation of the revenues from all the other governments put together.
With much expected from the government for what is has received throughout the years, John Mahama says President Akufo-Addo has rather shortchanged Ghanaians.
Speaking at the launch of the party’s Manifesto at the Prof. Jophus Anamuah-Mensah Auditorium at the University of Education, Winneba, Saturday, August 24, 2024, John Mahama enumerated the various sectors the government has trailed with their respective indices.
“This government has received more revenue than all governments combined in the history of Ghana. And as the saying goes, to whom much is given, much is expected. Unfortunately, the people of Ghana have been severely short-changed by this administration.
“The scorecard of this administration has been abysmal. An inflation rate that went as high as 54% and is currently hovering above 20%. Ghana has one of the highest food inflation rates in Africa.
“We have a currency that has depreciated to almost GH¢ 16 to USD 1; and borrowed more the GH¢70 billion from the BOG causing a serious upsurge in inflation; a debt to GDP rate that went as high as 104% and an unemployment rate at almost 15%.
“Ghana has defaulted on her debts and engaged in a debt exchange that has resulted in painful haircuts and deferred tenure on bonds at lower interest rates.
“Cocoa production has plummeted and for the first time in history, COCOBOD’s annual syndication, which was sought after by international banks, has no takers. Production volumes are down and COCOBOD is seeking to delay delivery of almost 350,000 tons to next year. COCOBOD has defaulted on almost GH¢13 billion in cocoa bonds.
“Oil and gas production has declined by 32% and debt to independent power producers has increased astronomically. The majority of SOEs are posting massive losses.
“The COVID pandemic rather than being an adversity turned out to be a blessing, with a windfall for this government of almost GH¢ 25 billion of inflows most of which was doled out to companies owned by family and relatives.
“The majority of our citizens are convinced our country Ghana is going in the wrong direction. Faith in our democracy is at its lowest, and many of our youth do not believe that constitutional governance is working for them.
“Faith in our democratic institution, and the political leadership is at the lowest ebb. Corruption is at its highest and Ghanaians are numb to the scandals that are exposed almost every week.
“And when you have a President who says he does not understand the hullaballoo about the sale of SSNIT hotels to a minister in his government, then clearly, he is on a completely different wavelength than the rest of the country. This is a President who doesn’t get it!
“Many domestic and foreign investors have adopted a wait-and-see attitude. Many I have met told me they are waiting for a signal from the Ghanaian people that the political and business environment is going to change. That we are going to effect a change of course.”
