Mahama Assures Ghanaians: New Fuel Levy Won't Cause Immediate Price Hikes

Ghana's President John Mahama recently addressed the nation regarding the introduction of a new fuel levy. While some feared immediate price hikes, Mahama assured citizens that recent economic stability and a stronger cedi would mitigate this. He stated, "With the recent gains in macroeconomic stability and strengthening of the Ghanaian cedi, this levy is not expected to result in any immediate fuel price increases at the pump." The government plans to use the levy's revenue to pay down accumulated debt in the power sector and increase gas supply from sources like ENI Sankofa and Jubilee fields, ultimately aiming to reduce reliance on liquid fuels. This approach demonstrates a commitment to fiscal responsibility and energy diversification.