A Deputy Organiser of the National Democratic Congress (NDC), Chief Hamilton Nixon Biney, massed up with others in front of the Vice President’s office in Accra today (Friday, October 28).
The picketing was in protest of the “prevailing economic hardships” that have increased the cost of living in the country, according to Mr Biney.
He explained that their mission was to call Dr. Mahamudu Bawumia’s attention to the economic challenges faced by Ghanaians and to demand solutions.
“This is the time he needs to do something. The economy must get better — they have to do something, especially when they promised that they have the right men for the job. As it stands now, we don’t know. It’s as if we’re in hell,” he said.
The protest, which was dubbed “Ghana Must Work”, started with a walk from Kawukudi Park at 7 am and ended at Vice President Dr. Mahamudu Bawumia’s office.
A petition was then presented to the Deputy Chief of Staff Emmanuel Adumua-Bossman to be handed to the Vice President.
What is the economic condition in Ghana?
The Ghanaian economy has seen many challenges that the government has blamed on the COVID-19 pandemic and the Russia-Ukraine conflict.
There is pressure on the government due to rising public debt, expenditure management, revenue generation constraints and a rise in the cost of living.
Ghana’s inflation soared to 37.2%, with the year to September 2022 depreciation also pegged at 37.5 % by the Bank of Ghana (BoG).
Prices of goods and services have increased astronomically, with the latest item to be affected being drinking water.
Consumers will pay more for packaged water beginning October 31, following the rise in the cost of production.
A bag of sachet water will be selling for GH¢10, while one sachet water will increase from 50 pesewas to 60 pesewas.
Sachet water producers cite rising fuel prices and other input costs as the reasons for the increment.
According to the GPRTU, the adjustment has been necessitated by the continuous soaring of prices of petroleum products at the various fuel pumps.
Meanwhile, fuel prices at the pumps have shot up significantly even before the date that the new fares are expected to kick off.
The increments are happening even before the next pricing review of petroleum products on November 1.
Diesel now sells at ¢19.89, from ¢15.99 in the last pricing window on October 16.
This translates to a 24.3% increment in diesel prices at some Oil Marketing Companies (OMCs) like Petrosol and Engen.
Checks by The Ghana Report indicate that some OMCs like Petrosol and Engen also sell a litre of petrol at ¢17.45 and ¢17.54, respectively, while market leaders, such as GOIL and TotalEnergies, are selling petrol at ¢13.99 a litre.
The pricing window review by OMCs is done twice a month, but fuel prices have skyrocketed drastically, even before the due date.
Some OMCs insist that they can no longer wait for the bi-monthly review of prices of petroleum products because the Bulk Oil Distribution Companies (BDCs) have been selling to them at the current market rate.