Works and Housing Minister, Kojo Oppong Nkrumah, has robustly defended Vice President Dr. Mahamudu Bawumia’s strategy for addressing the high cost of living in Ghana. Speaking on Asempa FM’s program on Monday, Oppong Nkrumah emphasized that Dr. Bawumia’s manifesto offers concrete, actionable plans in four critical areas: energy, rent, transport, and food.
According to Oppong Nkrumah, Dr. Bawumia's proposals are not just rhetoric but are designed to directly address the key factors contributing to the high cost of living. “Dr. Bawumia has made it clear in his manifesto how he intends to reduce the cost of living across the board,” he said. “He detailed his plans for each of the key areas that impact the cost of living in Ghana.”
One of the most significant initiatives mentioned is Dr. Bawumia’s plan to introduce 2,000 megawatts of solar power as a measure to lower energy costs. Oppong Nkrumah described this initiative as a “concrete step towards reducing the burden of energy expenses on Ghanaians.”
On the issue of transportation, the Vice President’s proposal includes transitioning to high-capacity electric vehicles. Oppong Nkrumah noted that this shift aims to reduce public transport costs by eliminating fuel expenses and controlling spare parts prices through flat-rate import duties.
Addressing the concern of food inflation, the Minister stated that Dr. Bawumia has a detailed approach to controlling food prices, although specifics were not disclosed in the discussion.
In terms of rent, Oppong Nkrumah highlighted Dr. Bawumia’s commitment to improving access to housing, which he believes will gradually reduce rental costs. He mentioned that Dr. Bawumia’s program aims to boost social housing, thereby lowering rent over time.
Finally, Oppong Nkrumah discussed the Vice President's strategy to stabilize the cedi by expanding the gold purchase program. This expansion is intended to cover foreign exchange demands, particularly from multinationals, without putting pressure on the limited forex in the market. “That’s a bold move to curb forex demand,” Oppong Nkrumah concluded.
The Minister’s defense of Dr. Bawumia’s strategy underscores the administration’s focus on tackling economic challenges through specific, actionable plans.
