Rev. John Ntim Fordjour, Member of Parliament for the Assin South Constituency, has credited former Vice President Dr. Mahamudu Bawumia’s Gold-for-Oil policy with helping to stabilise the Ghanaian economy, particularly through the reduction in the exchange rate and fuel prices.
Speaking on the Oyerepa Breakfast Show, Rev. Fordjour said the policy, which involved the purchase and storage of gold to pay for petroleum products, played a crucial role in easing pressure on the cedi before the New Patriotic Party (NPP) administration left office.
According to him, the country acquired and stockpiled more than 30 tonnes of gold under the initiative, a move he described as strategic and impactful.
“Dr. Bawumia introduced the Gold-for-Oil policy, under which the country purchased and stockpiled over 30 tonnes of gold before leaving office. This major initiative has contributed significantly to the reduction in the exchange rate, which in turn has led to lower fuel prices,” he stated.
Rev. Fordjour argued that the policy reduced Ghana’s dependence on foreign exchange for fuel imports, thereby easing demand for the dollar and helping to stabilise the local currency.
Beyond the economic impact of the policy, the Assin South MP expressed strong confidence in Dr. Bawumia’s political leadership, describing him as the NPP’s best hope for returning to power in the 2028 general elections.
“Dr. Bawumia is not just an ordinary politician; he is the strongest candidate capable of leading the NPP to reclaim power from the NDC in the 2028 elections,” he said.
Rev. Fordjour maintained that Dr. Bawumia’s economic expertise, innovative policies and leadership experience place him in a unique position to appeal to voters and effectively challenge the governing National Democratic Congress (NDC).
His comments have added to ongoing political discussions within the NPP about leadership, policy legacy, and the party’s strategy ahead of the next general elections.
Source: Oyerepafmonline.com
