Bryan Acheampong: NDC's new Cedi and fuel prices

For the past one year, the National Democratic Congress (NDC) spent their precious time, discussing Ghana's economy, focusing on the negatives with special attention to the depreciation of the cedi and hikes in fuel prices.

As far as they are concerned, Ghana is the only country that has been hit by the coronavirus pandemic and the Russia-Ukrane war. Thus, they have done their best to insulate these external factors from the economic hardships in the country. This is what they think would bring them back to power to take charge over the country's resources for reasons we can all guess.

Taking advantage of the poor masses, who wake up thinking about their next meal, they used their demagoguery prowess to compare Ghana's current inflation rate with that of Ivory Coast in a manner that favoured them. However, they same people would not compare the rate at which both coutries' inflation rose since the pandemic and the war surfaced.

What am I drawing home at? Though Ivory Coast has lower inflation rate than Ghana, both countries had their inflation rates sky rocketing following the pandemic and the war. Before President Akufo-Addo took over the administration of the country from former President John Dramani Mahama, Ghana's inflation rate stood around 15.4%. Ivory Coast's inflation rate at this time was less than one percent. What would have caused the rate of inflation in Ivory Coast to shoot up to 4.80% if not the coronavirus pandemic and the Russia-Ukrane War?

Their greatest bite, however, was on the depreciation of the cedi and the rise in fuel prices that brought untold hardships on the poor masses. Amidst the suffering of the poor they rejoiced and incited the citizens against the government. While the government kept on instilling hope in the citizens, they preached doom, claiming the worst was yet to happen. They did their worst when they held press conferences and appeared on radio programmes to encourage traders to hike the prices of their products, arguing that the government should take responsibility for the increase in prices of goods on the market. The same people claim they stand with the poor.

The government indeed took responsibility by thinking outside the box to cause fuel prices to come down. Through the ingenuity of Vice President Dr Mahamudu Bawumia, the government introduced the Gold for Oil (G4O) policy.

Thankfully, this policy has achieved its intended purpose by drastically reducing the prices of petroleum products and stabilising the cedi. Diesel and petrol prices which once sold at GHS23.00 per litre is now being sold at GHS12.49 and GHS11.69 respectively. The cedi has also greatly appreciated against the USD and the other major currencies.

Under these circumstances, the NDC no longer have anything to complain about. In view of this, they have turned Hon Bryan Acheampong into their new cedi and fuel prices. To this end, they have deliberately taken his recent comments at Abetifi out of context to enable them discuss him in the negative light.

Without mincing words, the Agric Minister assured his party supporters that the NPP would resist the NDC and show them they really have the men should the former deside to misbehave in the 2024 elections.

Since he passed these harmless comments, the NDC who are left with nothing to complain about are calling for his arrest, describing his comments as treasonable. So the NDC think they should be allowed to misbehave with impunity in the 2024 elections right? I am sorry this will not happen.

Comparing the comments of Hon Acheampong with Mr John Mahama:s boot for boot remarks, the NDC have no case. However, they just want to turn Hon Bryan Acheampong into their new cedi and fuel prices to remain relevant in the political space.

The author is an essayist and a social commentator.

By Bala Ali