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Fuel Price Cut: 15 Pesewas Can’t Buy Even ‘Groundnut’ Today – Pratt Ridicules Finance Minister | Politics

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Managing Editor of the Insight newspaper, Kwesi Pratt Jnr. has ridiculed the Finance Minister’s measure to cut down fuel prices by 15 pesewas.

As the fuel prices go up and compounding the woes of Ghanaians, the Finance Minister has outlined how the government is going to assuage the populace.

Speaking in a press briefing on Thursday, March 24, 2022, the Minister stated that, “the rising prices of fuel at the pumps is influenced largely by the rising crude oil prices on the international market and the exchange rate depreciation. Though the rise in crude oil prices should have been to our benefit on net basis, Ghana’s import of petroleum products amounts to 5.2 times the value of the proceeds from its crude oil exports”.

He expounded; “In 2022, we exported $3,947.70 million of which Ghana’s portion was $513 million. However, we imported $2,719.00 of crude oil and finished products. The purported windfall gain in foreign exchange is a mirage. From January to date, the average ex-pump price of diesel and petrol have increased by 57% and 45% respectively. Unlike in other countries where the hike in crude oil prices and exchange rate volatility are leading to shortages in supply of petroleum products, government is implementing measures to guarantee a constant supply of petroleum products.”

To mitigate the impact of the rising price of petroleum products, he disclosed that the government has decided to, for the next three months, reduce “margins in the petroleum price build-up by a total of 15 pesewas per litre with effect from 1st April”.

“Ladies and gentlemen, these reductions in margins are expected to reduce prices of petrol by 1.6% and diesel by 1.4%. We anticipate that the measures taken to strengthen the currency will help further stabilize the prices at the pump. Ladies and gentlemen, the NPA is in discussion with the OMCs to reduce their margins within the spirit of burden-sharing. The Government will do all it can to ensure consistent supply of fuel and manage the rate of ex-pump price increase by ensuring that BoG has access to adequate foreign exchange,” he added.

But Kwesi Pratt finds these measures risible as he sees little to no impact they make on the fuel prices.

Making his submissions on Peace FM’s ‘Kokrokoo’, the seasoned Journalist queried the Minister asking, “What are we using 15 pesewas to do in today’s Ghana? Can 15p even buy groundnuts? What does this 15p mean?”

As he laughed over the reduction, he, however, hoped the government will stay committed to the measures and adopt further ones to remedy the economic situation confronting the nation.

Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana

 

 

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.

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Ten Nigerian Cabinet Ministers Resign To Run In Next Year’s Election | Politics

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Ten Nigerian cabinet ministers, including the junior petroleum minister, have resigned to run in next year’s election, the information minister said on Friday, with the president pledging to replace them to keep the government running.

On Thursday, the government asked all ministers, ambassadors, agency heads and other political appointees including the central bank governor to resign on or by May 16 if they decide to join the 2023 election race.

Other ministers that resigned include ministers of justice, transport, labour, Niger Delta, science and technology and women’s affairs. The junior ministers for mines and education also resigned, information minister Lai Mohammed said.

President Muhammadu Buhari said replacements would be made without delay “so that the business of governance will not suffer”.

Buhari, who also acts as the senior petroleum minister, will step down after serving two four-year terms following the February 2023 ballot.

Nigeria is currently faced with many challenges as it heads into next year’s election, among them the issues of insecurity, terrorism, banditry, kidnapping, ritual killings, a weak currency amid double-digit inflation and slow growth.

There is also secessionist agitation which has given rise to regional calls for power-sharing between southern and northern Nigeria.

The naira, hit a record low of 598 against the dollar on the black market, where it is freely traded, as election-related spending hit the currency.

On Wednesday, Buhari directed all appointed officials seeking elected positions to resign. 

Vice president Yemi Osinbajo, who wants to succeed Buhari, was exempted from the directive since he was jointly elected with incumbent Buhari.

A ruling All Progressive Congress (APC) party spokesperson said central bank governor Godwin Emefiele may seek the ruling party ticket for the presidential race next year, drawing calls for him to resign over his political ambitions.

Emefiele has asked a federal court to restrain the electoral commission (INEC) and the attorney general from blocking his bid to run for president next year while in office, which the court rejected.

Nigeria’s political parties must pick their candidates by June 3. Buhari’s APC will hold primary elections to select candidates, include for president, at the end of this month.

More than 20 APC candidates have so far registered to contest the primary vote for the presidential ticket.

 

Source: REUTERS

 

 

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.

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Bawumia-Alan Ticket Is The “Heavenly Pair We Need” – Annoh-Dompreh | Politics

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Majority Chief Whip, Frank Annoh-Dompre who has openly declared his support for Vice-President, Dr Mahamudu Bawumia to be the party’s next flagbearer says a pair with Alan Kyerematen will be a ‘solid’ front to defeat in the 2024 presidential election.
 
The Nsawam-Adoagyiri NPP MP joined other party members who want the NPP to halt its planned presidential primaries and convince Dr Mahamudu Bawumia and Alan Kyerematen to run together in the 2024 presidential election.
 
The two are expected to contest against each other for the first time in a keen contest.
 
Although this will be the Vice President, Dr Bawumia’s first attempt, Mr Kyerematen, the current Trade, and Industry Minister, has contested against Nana Addo Dankwa Akufo-Addo thrice before he was elected President in 2016.
 
Mr Annoh-Dompreh is, however, optimistic that the duo can win help the NPP ‘Break the 8’.
 
“May the Almighty touch the hearts of men…It’s the heavenly pair we need.” He tweeted in a response to Bawumia-Alan united front hashtag on Twitter.
 

 
 
 

Source: King Edward Ambrose Washman Addo/peacefmonline.com/ghana

 

 

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.

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Asantehene Spoke The Truth But . . . – NDC Communicator | Politics

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Eric Adjei, a member of the communication team of the largest opposition National Democracy Congress (NDC) has commended the Asantehene, Otumfuo Osei Tutu II for some comments made in the USA.

Otumfuo Osei Tutu II, delivering a lecture at the University of Memphis in the USA last Thursday has said democracy in Africa should not be all about elections.

He said no system of governance would survive in Africa unless it was deeply rooted in and nourished by the culture of the people.

“It is still work in progress but we are happy and proud of the acknowledgement both nationally and internationally of the traditional rulers’ role as the critical support mechanism for the sustenance of the democratic order,” he added.

Eric Adjei in a discussion on UTV’s ‘Adekye Nsroma’ programme said: “Asantehene’s comment is commendable but I think he should have made those statements at home because he could have said it long ago, but I commend him for speaking the truth”.

He further asked Asantehene to “tell Akufo-Addo that democracy is not about election alone”.

“We have a lot of problems in the country and we have charlatans as part of the problem. We have men in cassocks,  traditional authorities who don’t speak the truth; they’re praise singers and greedy people,” he added.

Listen to him in the video below

Source: Peacefmonline.com

 

 

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.

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