GHANA’S ECONOMY ON THE BRINK OF COLLAPSE
BY ABDULMUMINI ADEKU
…………………………………………fierce
energy crisis bites hard
…………………………………………may trade with Ivory Coast
………………………………………….Cedi and Pesewa goes down
the slope on currency radar as dollar firms up.
…………………………………………..Ghanians blame Mahama for woes
…………………………………………….E-DEY-BE-KEKE was a slogan in Ghana in
2012 like MY-OGA-AT-THE –TOP in 2013.
Ghana’s economy which was the envy of all in the last 10 to
15 years for its upward swing and its strict adherence to democratic principles
is now heading down the slope.
In an investigations conducted exclusively by Paedia Express
multimedia in Lagos, Nigeria on the sidelines of an African Union organized
workshop, The Programme Assistant of
Oilwatch Ghana and Friends of the Earth Ghana,Mr Klutsey Jonathan lamented the
crisis in the former Gold coast’s power and energy sector as at press time.
He said that at the moment the entire nation only had steady
electricity supplied to various homes
and offices for just about 12 hours on the average on a daily basis.
He explained that things were now so bad in Ghana that the
republic was thinking of going into a synergy by going into another round of diplomatic pact with the Ivory Coast
to run away from the nightmare.
He noted that the turbines used in the Volta River Dam of
Akosombo was okay but has suffered due
to several years of poor maintenance .
He pointed out that in terms of activities at the foreign
exchange market ,the nations currencies, Cedi and Pesewa were doing very badly at
3 Cedis ,20 pesewas to a Dollar presently.
His words:”our economy as compared to the projection we had
by experts is in serious trouble at the moment,we have thermal plants in Obuasi
in Western Region and Asodli in Brong Ahafo Regions and both need gas to power
them but this is not available”
“We have started working on our oil exploration but the
blueprint for the oil and Gas trade came a shade later than the time the
exploration started”
He added that it was obvious that Ghana is not yet ready for
oil and gas business before they ventured into it.
It was gathered that as at press time that Bretton Wood
based sisters like the World Bank Group and the International Monetary Fund
[I.M.F] were expected to discuss new terms with officials in Accra very soon it
was not immediately sure how much will be dedicated to power and energy when
the deal is struck.
Nigeria is strongly believed to be the third biggest trade
partner to Ghana after the United States and China with trade balance standing at well over
N17Billion as at 2012.
There is a deep socio-cultural relationship between Nigeria
and Ghana dating back to over two centuries.
Key markets in Accra, Ghana like Makola and Mallam Atta were
started by Nigerians,infact Mallam Ibrahim Atta who started the latter later
went on to becoming the Ohinoyi of Ebira land in Central Nigerian town of Okene
in Kogi state.
The Electricity Company of Ghana, (ECG), has said it cannot
be blamed for the current erratic power supply but has, nonetheless, expressed
regret over its inability to follow strictly, its power rationing timetable.
Meanwhile the Electricity Corporation of Ghana has moved quickly to douse the tension as at press time.
Meanwhile the Electricity Corporation of Ghana has moved quickly to douse the tension as at press time.
According to the company, the worsening power crisis, is as a result of the
increasing deficit in power supply from power transmitter, GRIDCO.
ECG is currently shedding 450 megawatts of electricity as a result of the latest development.
The situation over the past few weeks has gone bad leaving most customers frustrated.
Worst affected is the Korle Bu teaching Hospital, where dialysis patients have had to bear the brunt of the erratic power supply.
But speaking to Starr News, Public Relations Officer of ECG, William Boateng, apologized to customers for the inconvenience.
Boateng said ECG will consult with GRIDCO over the situation to inform its decision to review the load shedding timetable.
He, however, conceded that consumers had every right to express frustration, especially when the PURC recently reviewed utility prices upward.
ECG is currently shedding 450 megawatts of electricity as a result of the latest development.
The situation over the past few weeks has gone bad leaving most customers frustrated.
Worst affected is the Korle Bu teaching Hospital, where dialysis patients have had to bear the brunt of the erratic power supply.
But speaking to Starr News, Public Relations Officer of ECG, William Boateng, apologized to customers for the inconvenience.
Boateng said ECG will consult with GRIDCO over the situation to inform its decision to review the load shedding timetable.
He, however, conceded that consumers had every right to express frustration, especially when the PURC recently reviewed utility prices upward.
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