Bawumia’s gold for oil deal shady — Asiedu Nketia

21st March 2023

The National Democratic Congress (NDC) has described the  gold for oil policy of the government as shady.

Earlier, Vice President Dr. Mahamudu Bawumia took a dig at the NDC for doubting and opposing the gold-for-oil policy.

According to him, persons who doubted the gold-for-oil policy are now bleeding because the policy is working and Ghanaians are already feeling the impact.

“There are people who are very disappointed that it is working, but bleeding is allowed. They have an impossibility mindset, and they can keep to it. For us all, things are possible by the grace of God,” Dr. Bawumia said at the commissioning of the new head office of the Bulk Oil Storage and Transportation Company Limited (BOST) in Accra on Wednesday, March 15.

Dr. Bawumia urged Ghanaians to stay positive and optimistic about the gold-for-oil policy and to expect cheaper fuel under the deal

But Asiedu Nketia addressing Ghanaians on the “True State of the Nation” said “the President’s actions and complicity have emboldened many of his officials, not least the Vice President, Alhaji Bawumia whose name has come up in multiple corruption scandals such as the PDS scandal, the shady gold-for-oil deal, the Stolen Rice scandal, and the “Appearance Fee Scandal”.

The policy to buy oil products with gold rather than U.S. dollar reserves is meant to tackle dwindling foreign currency reserves coupled with the demand for dollars by oil importers, which weakens the Ghana cedi and increases living costs.

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