Tariff adjustments reflect production costs, but citizens will feel the impact – Kojo Oppong Nkrumah
Electricity tariffs in Ghana are set to be reviewed every three months, a move that has raised concerns about its impact on ordinary citizens.
Speaking at a press conference held by the Minority in Parliament on Thursday, the Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, highlighted the implications of this policy.
“The adjustment of electricity tariffs every three months is meant to reflect changes in production costs, fuel prices, and exchange rate fluctuations,” he stated.
He acknowledged the government’s justification for the periodic tariff adjustments but urged policymakers to consider the economic burden it could place on citizens.
“While the government argues that this is necessary for sustainability, we must also consider how it affects ordinary Ghanaians. Frequent adjustments could place an additional burden on citizens,” he emphasized.
The announcement comes at a time when many Ghanaians are already grappling with the rising cost of living.
The prospect of regular changes in electricity prices has sparked discussions about affordability and economic stability.
Furthermore, the Minority weighed in on Ghana’s debt trajectory from 2009 to 2024, defending the New Patriotic Party (NPP)’s economic management while criticizing the National Democratic Congress (NDC) for what they describe as excessive borrowing during their tenure.
Addressing the press on the 2025 budget statement presented by former Finance Minister Dr. Amin Adam, the Minority highlighted key differences in debt accumulation under both parties.
“The discourse surrounding Ghana’s debt profile from 2009 to 2024 is both multifaceted and pivotal. Following the attainment of the HIPC completion and external debt relief, Ghana witnessed a remarkable decline in our public debt to GDP ratio.
However, the public debt, which stood at $8.07 billion in 200,8 surged to $29.2 billion by 2016, marking a more than threefold increase.
