Founding President of IMANI Africa, Franklin Cudjoe, has welcomed the government’s decision to suspend the implementation of the contentious Energy Sector Levy, popularly known as the Fuel Levy.
He describes the move as “sensible” and necessary in light of expected global oil price hikes triggered by escalating tensions in the Middle East.
Responding to the Ghana Revenue Authority’s (GRA) June 13 directive to indefinitely postpone the rollout of the GHS 1 per litre levy, Cudjoe took to Facebook to commend the government's decision to step back and evaluate the potential economic fallout of such a policy.
“As oil prices are set to rise due to tension in the Middle East, the government must assess the situation and likely impact before rolling out the GHS 1 ‘dumsor’ levy,” he wrote.
Cudjoe went further to outline strategic measures he believes the Mahama-led administration should urgently pursue. These include ramping up domestic oil production, wisely investing the country’s recent foreign exchange and gold windfalls, particularly in agriculture, and recovering misappropriated public funds from the past eight years to strengthen economic resilience.
His remarks come amid mounting criticism from the Minority in Parliament, which has slammed the government's abrupt U-turn on the Energy Sector Levies (Amendment) Act, 2025, citing poor consultation and policy inconsistency.
In response to the backlash and global uncertainty, President Mahama has tasked the Finance and Energy Ministries to conduct a thorough assessment of the potential impact of oil price shocks linked to the Iran-Israel conflict.
He has also pledged that the government will take necessary precautions to shield Ghanaians from undue financial strain.
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Comments
Disgraceful remarks by the Trokosis kingpin Franklin Cudjoe. Now Franklin listen to wisdom below: Wonders shall never end. At a point in time in Ghana, the Ndc propagandists spearheaded by President Mahama didn't want to hear and know that the economy of Ghana between 2017-2020 was booming until the COVID and the Ukraine and the Russia war rippled effects shattered the economy. Now the chicken has come back to roost and President Mahama is now telling Ghanaians that the just heightened tensi...