It may be recalled that in November 2022, Vice President Dr Mahamudu Bawumia announced government's gold for oil programme when the cedi was depreciating against the dollar.
With this, the government plans to buy oil products with gold rather than US dollars.
“It will fundamentally change our balance of payments and significantly reduce the persistent depreciation of our currency,” Dr Bawumia said.
Marlick Adjei speaking in an interview on Peace FM's Morning show 'Kokrokoo' said the first consignment under the policy has arrived at the Tema Port and discharged into the receptacles of Bulk Oil Storage and Transportation Company (BOST).
The 41,000 metric tonnes of petroleum products was delivered by SCF YENISEI and would be sold by BOST to bulk distributing companies (BDCs) around Ghana.
Marlick Adjei, who is the General Manager in charge of Corporate Communications and External Affairs at BOST added:
The new shipment is valued at $ 40 million.
Source: Peacefmonline.com
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This gold for oil thing is ***barred word***. So can’t any government come to build a refining plant so that all the oil we get from ghana will be refined and sold as an end product? Ghana produces both the oil and the gold. We give both products out to them because we can’t refine them and then after they have refined it, send one of the products(oil) back to us. What is this called? All this happens when we have people who are supposed to be on retirement, making decisions for us. If a government that comes to power will help us with just just one project, that is a refining plant for oil or gold, ghana wouldn’t be in the state it’s in right now.
Ghanaians are in serious trouble. Fuel prices have gone up again. Now nobody knows where the driver is heading towards with the passengers. Dollar for oil, bad, gold for oil, hmmmm. What did we do wrong to be going through all these wahala. Electricity and water charges have equally been increased effective February, 2023. Ghana has become every one for himself, God for us all. Is it actually worth it to waste precious man hours at the polling station to queue to vote and bring wahala on yourself? So the gold, bauxite, manganese, cocoa, timber and oil are not enough to guarantee a comfortable life for 30 million people? What else do our so called leaders want to make life comfortable for the people. What else? 30 million lives being toyed with by two twins i.e. NDC/NPP.