By Iddi Yire, GNA  

Accra, June 18, GNA – President John Dramani Mahama has directed all Metropolitan, Municipal and District Chief Executives (MMDCEs) to declare their assets by July 15. 

The Public Office Holders (Declaration of Assets and Disqualification) Act, 1998 (Act 550) mandates public officials to declare their assets and liabilities upon their assumption of office.  

The law aims to prevent corruption, detect illicit enrichment, and address conflicts of interest by requiring public officials to disclose their assets and liabilities.  

President Mahama gave the charge in his opening remarks at the orientation workshop for newly confirmed MMDCEs at the Institute of Local Government Studies at Madina near Accra. 

This year’s orientation on the theme: “Strengthening Local Governance Through the Reset Agenda”, reflects the core of the ruling National Democratic Congress’ (NDC) 2024 Manifesto, Resetting Ghana, Jobs, Accountability and Prosperity. 

President Mahama said the Government had taken steps to transfer the highest amount of funds in the history of the Fourth Republic to the MMDCEs from the District Assembly’s Common Fund.  

He said 80 per cent of the District Assemblies’ Common Fund was coming directly to the MMDCEs. 

He said the Government expected the MMDCEs to ensure the judicious and transparent use of these resources. 

He said the funds must be utilized in the interests of the people and not for their own comforts.  

President Mahama said the Auditor-General and other anti-corruption institutions would be watching the works of the MMDCEs. 

“And as I’ve said previously, if any of these institutions start investigating you, you don’t expect me to interfere on your behalf,” the President said. 

He reminded the MMDCEs that they were among the office holders required to declare their assets.  

“And so I expect that by July 15th, all of you would have declared your assets. I’ve given you enough time, haven’t I?” The President questioned. 

President Mahama reiterated that the ruling National Democratic Congress’ (NDC) Manifesto outlined a bold and people-centred agenda that placed local government at the heart of national development. 

He said the MMDCEs were the first line of implementation for many of the flagship programmes.  

President Mahama said the 24-Hour Economy, the Clean Up Ghana Initiative, Adwumawura, the National Apprenticeship Programme, Mahama Cares, and Feed Ghana policies were not abstract ideas. 

He said the policies required  structure, coordination, and leadership to bring them to life at the district level.  

He said the 2024 Budget Statement outlined the Government’s financing strategy and clarified that decentralised development was a priority.  

President Mahama again said the Government had committed 80 per cent of the District Assemblies’ Common Fund to Metropolitan Municipal and District Assemblies (MMDAs) this year to ensure that each Assembly was resourced to meet its people’s demands. 

He said every Assembly, from the least, even the least would receive not less than GH¢ 25 million this year.  

He said these resources were to be applied in ways that reflected local priorities and medium-term development plans.  

GNA  

Christian Akorlie  

Some of the leaders from the Yoruba community

Alhaji Sidiku Buari, President Yoruba Council of Elders Ghana and a prominent figure within the Ghanaian community has described the upcoming Yoruba Day as a landmark event poised to strengthen cultural identity and unity among Yorubas living in the country.

Speaking after a courtesy visit from the leadership of the Yoruba Community in Ghana on Tuesday, June 17, Alhaji Buari emphasized the importance of preserving traditional values among Yorubas in the diaspora.

The delegation was led by Alhaji Chief Tunde Azeez, National President of the Yoruba Community in Ghana, alongside Alhaji Chief Fattau El Aziz, Chairman of the Yoruba Community Restructuring Committee, and Chief Alhaji Saeed Owolabi, The Aare Bobagunwa of Yoruba in Accra.

The visit is part of a broader effort to rally community leaders and build momentum ahead of Yoruba Day celebrations. It follows similar engagements with key traditional rulers including His Royal Majesty Oba Abdulsalami Amao Saka, the Olu of Kasoa and Paramount King of the Yoruba in the Central Region of Ghana, and HRM Alhaji Abdul Rasheed Brimah IX, the Paramount Oba of the Yoruba in Ghana.

“Yoruba Day is a special day for all Yorubas in Ghana,” Alhaji Buari said. “It’s not just a celebration; it’s a tool for preserving our culture and traditions. Yorubas have made significant contributions to Ghanaian society and beyond, and this event allows us to reflect on that legacy.”

He cited the global influence of the Yoruba people, particularly in the United States, where he noted individuals of Yoruba heritage have held prominent roles in finance and governance.

“Even though I was born in Ghana, I proudly embrace my Yoruba roots. That’s how I was raised, and I carry it with me every day,” Alhaj Buhari added.

On her part, Alhaja Adia Brimah, a respected community elder who was also present during the discussions, shared her thoughts on the cultural impact of the event on younger generations.

“Most of my children have not seen something like that before,” she noted. “When it is time, they come in. It showcases the culture of Yorubas and their traditions. So, what they wouldn’t know, they will get to know that on that day.”

She emphasized the deep-rooted pride and acceptance of Yoruba culture across the globe. “There is an adage that says, ‘If you travel to a place and you don’t find a Yoruba there, it’s better you pack your things and leave because the people there are not accommodating.’ Wherever you see Yorubas, you will find out that they’ve been accommodated. Their traditions and their culture have been inculcated in them and everybody accepts them.”

Alhaja Brimah also observed that Yoruba identity is unmistakable, even in subtle forms.

“There are some Yorubas here that may not know much about their culture and their traditions. You will see a Yoruba wearing a Ghanaian dress but she can never abandon her traditional wears—both for women and men. They wear it just to portray that they are Yorubas.

They will never leave that aside. It showcases their tradition and their culture, even in their languages.”

On the role of women in the celebration, she issued a heartfelt call to action: “I will encourage all the women in this country, when this Yoruba Day comes, to participate fully. So that we come together as one, we know each other, and we bring in love for each and every one of us.”

Alhaji Buari concluded by reiterating the potential of Yoruba Day to foster unity not just in Ghana, but among the wider diaspora.

“This celebration will not only bring together Yorubas in Ghana, but also connect us to our brothers and sisters in Nigeria. Our shared traditions are a powerful bond, and this event will help keep them alive.”

The Yoruba Day celebration is scheduled for September 28, 2025 and is expected to attract participants from across Ghana and Nigeria, underscoring the cultural and historical significance of the Yoruba people in West Africa.

Also present in attendance were several respected elders and executives of the Yoruba Community including; Chief Alhaji Musa Baba, Alhaja Mistura Ali, Alhaji Sumaila Yusuf, Alhaji Wahab Lawal, Alhaji Fatai Kareem, and Alhaji Jabar Adenrele.

Leading the Yoruba Community executives were Chief Alhaji Yahaya Babatunde Azeez (President), Chief Hon. Abukari Saeed Ibrahim (Organizing Secretary), Chief Tunde Idogbe (Oba Asa), Chief Najeem Dauda Justice (National PRO), and Hon. Bola Akinsanya (Assistant Secretary).

Ghanaians protested at the Nigerian High Commission in Accra

A Ghanaian civil society group, Concerned Citizens for Justice and Economic Freedom, held a peaceful protest at the Nigerian High Commission in Accra, urging President Bola Ahmed Tinubu to intervene in the alleged harassment and intimidation of Ghanaian businesses in Nigeria.

According to citinewsroom.com, the group submitted a petition highlighting the mistreatment of JonahCapital Nigeria Ltd and Mobus Property Nigeria Ltd, affiliated with Ghanaian business magnate Sir Samuel Esson Jonah.

The petition alleges that Ghanaian workers and executives at the River Park Estate project in Abuja faced violence and intimidation, including physical assaults, gun threats, and property damage, reportedly carried out by Nigerian police and security officials.

The group claims this escalated during Ghana’s Foreign Minister’s [Okudzeto Ablakwa] visit, violating human rights and threatening regional business cooperation.

The petition cautions that the alleged ongoing harassment and intimidation of Ghanaian businesses in Nigeria pose a significant threat not only to the lives and investments of Ghanaians but also to the decades-long strong economic and diplomatic ties between the two nations.

The group’s convener stressed that their demands are reasonable.

“We are not asking for special treatment; we are asking for equal treatment” he said.

While the Nigerian High Commission in Accra has acknowledged receipt of the petition, it has yet to issue a public statement.

DR/MA

Telecel Ghana has confirmed it had been made aware of the legal claim

Telecommunications firm, Telecel Ghana has issued a public statement in response to media reports of a lawsuit filed by Madam Faustina Djagbele Abbey, a Makola-based onion seller, who is claiming GH¢2 million in damages over the alleged unauthorised use of her photograph in a marketing campaign.

According to the statement, Telecel Ghana confirmed it had been made aware of the legal claim, which relates to the alleged use of Madam Abbey’s image in promotional materials for the company’s “Telecel Red Save” product.

“We are currently reviewing the details of this claim to establish the facts. We wish to assure the public that we take matters of privacy, imagery consent and intellectual property seriously,” the statement read.

The telecommunications giant further appealed to the public for patience and understanding as the legal process unfolds.

Background

Madam Faustina Djagbele Abbey is said to have discovered that her image was used in a recent Telecel campaign without her prior knowledge or consent.

According to her legal team, the image, depicting her selling onions at Makola Market, was used to promote a savings-related product, portraying her as a customer or brand ambassador, despite there being no contractual agreement or compensation.

Court documents filed at the High Court by her legal counsel, Bernard Owiredu Donkor of Thompson Law Consult, state that Madam Abbey’s photograph was used without authorization in marketing campaigns for Telecel’s “Telecel Red Save” product.

The image has reportedly been circulated widely on billboards, traditional media, and social media platforms.

In her statement of claim, Madam Abbey asserts that she only became aware of the unauthorized use of her image after being alerted by friends and customers. She says the unexpected publicity has caused her psychological distress, strained family relationships, and led to misconceptions about her financial status.

According to her, some family members now assume she has become financially well-off, resulting in tension and discomfort in her personal life.

“The use of my photograph without my consent has unnecessarily exposed me,” Madam Abbey stated in her writ.

“I am unable to cope with the enormous publicity. It has had a serious impact on my mental health,” she claimed.

She further alleges that Telecel’s actions were deliberate and exploitative, targeting her vulnerable position as a market trader for corporate gain. She also warns that the company is likely to continue this conduct unless the court intervenes.

Madam Abbey is seeking three key reliefs from the High Court:

1. A declaration that Telecel violated her privacy and personal liberties.

2. A declaration that her image rights were abused through the unauthorized use of her photo.

3. An order directing Telecel to pay GH¢2,000,000.00 as compensation for the alleged violations.

Additionally, she wants all advertisements bearing her image whether on billboards, social media, or any other platforms to be pulled down.

MA

Richard Osei-Anim

Innovators, educators, and changemakers recently gathered at the ALX Hub in Accra for an event themed ‘Driving Ghana’s Next Generation of Digital Talent’.

The event brought together key players in the digital ecosystem, all united by a single goal – preparing African youth for a future powered by technology.

Among the standout voices at the event was Coral Reef Innovation Africa, represented by its Managing Partner, Richard Osei-Anim, whose light-hearted introduction, “I make the tea at Coral Reef”, gave way to a stirring presentation that left the audience reflective and inspired.

Coral Reef’s participation was a wake-up call, a rallying point, and a compelling showcase of what it means to drive meaningful change from the ground up.

Mr. Osei-Anim, in a presentation, detailed how artificial intelligence was already transforming industries, from flying planes and diagnosing diseases to revolutionising agriculture and finance.

He noted that over the past few years, Coral Reef has been living out this vision and deployed tens of thousands of smart devices across districts in partnership with the Ministry of Education and the Ghana Education Service.

He continued that a significant part of Coral Reef’s work has been dedicated to girls, children with disabilities, and underserved regions adding his organisation has installed digital labs in dozens of special needs schools, ensuring that no child was excluded from the future simply because of a condition or circumstance.

In collaboration with the Otumfuo Foundation, he said support has been extended to schools in Wiawso, Kona, Gona, and the Ahafo regions, creating access points where none existed.

“The ambition is continental. Coral Reef is building a Pan African footprint in collaboration with Access Bank, bringing its model of inclusive digital transformation to countries such as Nigeria and Eswatini.”

Mr. Osei-Anim furthermore said Coral Reef was not waiting for ideal conditions as it was creating them. “With faith in people and the power of partnerships, we are transforming forgotten communities into digital havens and bridging the gap between what is and what could be.”

By Samuel Boadi

President John Mahama has issued a stern warning to Metropolitan, Municipal and District Chief Executives (MMDCEs) that the utilisation of the District Assemblies Common Fund (DACF) will be closely monitored to ensure accountability and prevent misuse.  

Speaking at an orientation programme for the MMDCEs at Madina, Accra, yesterday, the President stressed that while his administration had allocated a historic 80 per cent of the DACF directly to the local authorities — the highest in the Fourth Republic — the funds must be used prudently for development, not personal gain.  

“The Auditor-General and other anti-corruption institutions will be watching your work,” President Mahama said, and added that, “This money is for the people, and any diversion or mismanagement will not be tolerated.”  

The President’s caution was part of broader efforts to strengthen transparency in local governance under his government’s “Reset Agenda.”

He reiterated that the decentralisation of resources was meant to accelerate grassroots development, not to enrich appointees.  

Orientation

The orientation, on the theme: “Strengthening Local Governance Through the Reset Agenda,” also emphasised the need for MMDCEs to prioritise service delivery, job creation and accountability in line with the government’s 2024 manifesto.  

Present at the event were the Chairman of the Council of State, Edward Doe Adjaho; the Minister of Local Government, Chieftaincy and Religious Affairs, Ahmed Ibrahim; the National Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketiah; the NDC General Secretary, Fifi Kwetey, and the Executive Secretary to the President, Dr Callistus Mahama, among others.

The President emphasised that their appointments were not personal rewards but a “public responsibility” demanding diligence and integrity.  

“The Ghanaian people voted for a bold change and for a reset. Your actions and results must demonstrate that their trust was not misplaced,” President Mahama said.

He warned the MMDCEs against arrogance and inertia, stating that the time for political celebration was over and that they must now deliver tangible outcomes for citizens.  

The President stressed that Ghana stood at a crossroads, and the leadership of MMDCEs will determine whether the nation achieves inclusive growth or continues to drift.  

The President also directed all MMDCEs to declare their assets by July 15, 2025, in compliance with the Public Office Holders (Declaration of Assets and Disqualification) Act, 1998 (Act 550).

“I remind you that you are required to declare your assets, and I expect all of you to do so by 15th July,” he said.

The law mandates public officers to declare their assets upon assuming office to promote accountability and curb corruption.  

Confirmation process

The Local Government Minister, Ahmed Ibrahim, disclosed that 257 out of 261 Metropolitan, Municipal and District Chief Executives (MMDCEs) had been confirmed following their nomination.  

“Mr President, I’m pleased to report that 257 nominees have received assembly approval, with confirmations ongoing for Tatale and Kanda,” he said. 

He mentioned two outstanding nominations in the Ashanti Region: “We are finalising the nomination process for the Asante Mampong and Atwima Mponua assemblies.”  

The Minister commended the vetting committee chaired by the NDC Chairman for ensuring a transparent selection process. 

“The swift confirmations reflect the quality of nominees and assemblies’ confidence in your leadership,” Mr Ibrahim told the new MMDCEs.  

Accountability

Mr Adjaho charged the MMDCEs to restore public trust through accountable leadership at the local level.  

“You assume office when public confidence in political leadership is under significant strain. Citizens are demanding greater accountability from those in public office,” he said.

He reminded the gathering about the 2018 constitutional amendment attempt: “It took President Mahama’s leadership and our collective effort to stop the MMDCEs election bill. Had it passed, some present here wouldn’t be occupying these positions today.”  

The Council of State Chairman emphasised the critical role of MMDCEs as not just policy implementers but the face of government where it matters most and urged the participants to approach the orientation with seriousness.

The Speaker of Parliament, Alban Sumana Kingsford Bagbin, commended President Mahama for convening the orientation, describing it as crucial for equipping MMDCEs to deliver on the government’s reset agenda, which is focused on discipline, integrity and local development.

Board members of the National Petroleum Authority

The Minister for Energy and Green Transition, Mr. John Abdulai Jinapor, has inaugurated the newly reconstituted Board of the National Petroleum Authority (NPA), pledging enhanced oversight and regulatory reforms to bolster Ghana’s petroleum downstream sector.

Speaking at the official ceremony, Minister Jinapor underscored the critical role of the NPA in ensuring efficient, transparent, and accountable operations across the petroleum value chain.

He emphasised the importance of robust regulation in protecting consumer interests, guaranteeing fair pricing, and curbing malpractice in a sector vital to national development.

“This industry is central to our economic growth. Effective regulation is not optional—it is imperative,” the Minister stated.

“With global volatility in oil prices and persistent challenges such as fuel smuggling, adulteration, dumping, and tax evasion, the NPA must remain vigilant and proactive.”

He lauded the Authority’s recent progress in enhancing regulatory and compliance mechanisms but urged the new Board to intensify efforts to combat illicit activities and restore trust and integrity in the sector.

“The Board’s responsibility goes beyond oversight—it includes advancing good governance, promoting transparency, ensuring adherence to licensing standards, and boosting local content and participation,” Mr. Jinapor said. “You must work to maintain a stable, competitive, and investor-friendly environment.”

The Minister also revealed that the Petroleum Downstream Sector Reforms Committee, established in March 2025, had submitted its final report. He indicated that the Ministry would review its recommendations—particularly those aimed at improving operational transparency, regulatory enforcement, and long-term sustainability—with a view to implementing reforms in close coordination with the NPA and other industry stakeholders.

In his acceptance remarks, the newly appointed Chairman of the NPA Board, Alhaji Huudu Yahya Iddrisu, expressed appreciation to President John Dramani Mahama for the trust reposed in the Board. He assured the Minister and Ghanaians of the Board’s readiness to work diligently to meet its mandate.

“On behalf of the Board, I express our gratitude to President Mahama. We are committed to advancing his vision of a fair, transparent, and efficient petroleum sector that delivers value to all Ghanaians,” Alhaji Iddrisu stated. “We will work closely with all stakeholders to ensure that the NPA fulfils its regulatory obligations with integrity and innovation.”

The new Board includes:

Alhaji Huudu Yahya Iddrisu – Chairman

Mr. Elorm L. Lardi Glawu

Dr. Clement Osei-Amodo

Mr. Godwin Tameklo – CEO of NPA

Sanja Anita Morrison, Esq.

Linda N. Ogebdei Quao, Esq.

Madam Phyllis Naa Koryoo Okunor

 Unilever Ghana PLC, despite the challenging macroeconomic environment, posted a profit of GH¢ 58 million in 2024.

The company also maintained a strong cash position of GH¢ 97 million.

The Managing Director of Unilever Ghana PLC, Mr Christo­pher Wulff-Caesar, who stated this last Friday, during the company’s turn at the “Facts Behind the Fig­ures” series of the Ghana Stock Exchange (GSE) said the compa­ny performed creditably amidst a dynamic economic landscape.

“Our performance in 2024 re­flects not only the strength of our trusted brands but also the agility of our business model,” he said.

He said Unilever Ghana PLC reported a revenue of GH¢ 930.8 million in 2024, compared with 2023 GH¢ 908.6 million,” Mr Wulff-Caesar, stated.

He said Unilever Ghana con­tinued to lead in the Oral Care and Personal Care categories.

“The company has remained focused on innovation, opera­tional efficiency, and building the equity of its heritage brands such as Pepsodent, Geisha, and Vaseline,” he said.

Mr Wulff-Caesar stated that in 2024, the company further ex­panded its product portfolio, with the launch of Omo Autos and the reintroduction of Omo Handwash, which had significantly strength­ened the company’s Home Care segment.

In alignment with Unilever’s Growth Action Plan (GAP), the Managing Director emphasised several impactful sustainability initiatives, particularly in support of plastics and livelihoods.

He said through the Ghana Recycling Initiative by Private En­terprises the company had champi­oned the development of a viable plastic economy.

The Managing Director said the company initiated a plastics educa­tion programme at its site and in various basic schools in collabora­tion with key players in the plastics industry.

The Managing Director indi­cated that Unilever Ghana PLC also partnered with the British Government and Ernst & Young to support two Ghanaian enterprises in the plastic and agriculture sectors with funding of one hundred thou­sand pounds (£100,000) each.

“Through our hygiene educa­tion programmes, Pepsodent teach­es over one million Ghanaians an­nually the proper way of brushing their teeth day and night through the twice-brushing campaign in basic schools and communities across the country, alongside prod­uct donations aimed at enhancing the health and hygiene status of the beneficiaries,” he said

Mr Wulff-Caesar reiterated the company’s purpose of “Brightening Everyday Life for All,” asserting: “We remain committed to driving consistent, competitive, profitable, and responsible growth through innovation, sustainability, and our people.”

 BY KINGSLEY ASARE

Ghana’s local currency, the cedi trading at GH¢10.30 to $1

Ghana’s local currency, the cedi, has appreciated slightly on the interbank market against major trading currencies, particularly the US dollar.

In its daily update, the Bank of Ghana noted that the cedi is trading at a buying price of GH$10.29 and a selling price of GH¢10.30 to the dollar.

The British pound is being bought at GH¢13.86 and sold at GH¢13.88, while the euro is trading at a buying price of GH¢11.86 and a selling price of GH$11.87.

Checks by GhanaWeb Business on June 18, 2025, at 8:40 AM indicate that the cedi is trading at GH¢12.00, while the pound is selling at GH¢16.90 at some forex bureaus across the country.

Additionally, the euro is trading at GH¢14.70 on the retail market.

Meanwhile, the Bank of Ghana has announced that Ghana is expected to receive $360 million from the IMF in July 2025 to further stabilise the cedi.

SP/AE

#TrendingGH: Drivers react to government’s new GH¢1 energy levy on petroleum products

BRUSSELS, June 19, (Xinhua/GNA) — The European Commission on Tuesday proposed legislation to phase out all Russian natural gas and oil imports to the European Union (EU) by the end of 2027.

The draft regulation, part of the Commission’s REPowerEU Roadmap, bans the conclusion of new contracts for Russian gas as of Jan. 1, 2026, and mandates the termination of existing short-term contracts by June 17, 2026.

Long-term pipeline gas and liquefied natural gas (LNG) contracts with Russian suppliers would be permitted to run only until the end of 2027.

EU member states are required to present diversification plans with precise measures and milestones for the gradual elimination of Russian gas and oil imports, said the Commission in the press release.

EU member states will also be required to report on Russian gas volumes and contractual obligations, including LNG shipments, to enhance transparency and enforceability.

The plan also targets Russian oil, setting a 2027 deadline for ending imports. While Russian oil has already dropped from 27 percent of EU imports in early 2022 to just 3 percent in 2024, the Commission argued that a complete cessation is necessary to eliminate residual risks.

The regulation still requires adoption by the European Parliament and the Council of the EU, with a qualified majority needed for approval.
GNA

CAIRO, June 19, (Xinhua/GNA) — Egyptian Foreign Minister, Badr Abdelatty, and his Russian counterpart Sergey Lavrov, on Tuesday called for an immediate de-escalation of tensions between Iran and Israel, advocating for political and diplomatic solutions and a return to negotiations.

During a phone conversation, the two ministers stressed that there is no military solution to the crisis, warning that further escalation could have dire repercussions for regional security and stability, according to a statement from the Egyptian Ministry of Foreign Affairs.

Both Abdelatty and Lavrov affirmed that restoring calm, is the sole pathway to prevent the current conflict from expanding to neighboring countries and the broader region.

The two ministers also exchanged the results of their recent contacts, with a number of ministers and senior officials in the region and the United States to de-escalate the situation.

The deadly aerial conflict between Iran and Israel has entered its fifth day, with at least 244 people killed in Iran and 24 in Israel.

The escalation was triggered by Israel’s surprise airstrikes across Iran on June 13.
GNA

The said image has reportedly been circulated widely across billboards and social media

An onion seller near Makola Market in Accra, Madam Faustina Djagbele Abbey, has filed a GH¢2 million lawsuit against telecom giant Telecel, operated by Ghana Telecommunications Company Limited, for what she describes as a gross violation of her privacy, personal liberties, and image rights.

According to court documents filed at the High Court, through her legal counsel Bernard Owiredu Donkor of Thompson Law Consult, Madam Abbey claims Telecel used her photograph without her knowledge or consent in marketing campaigns for the company’s “Telecel Red Save” product.

The said image has reportedly been circulated widely across billboards, traditional media, and social media platforms.

In her statement of claim, Madam Abbey avers that she only became aware of the unauthorised use of her image after being alerted by friends and customers. She says the unexpected publicity has led to psychological distress, strained family relations, and misconceptions about her financial status.

According to her, some family members now assume she has become financially well-off, resulting in tension and discomfort in her personal life.

“The use of my photograph without my consent has unnecessarily exposed me,” Madam Abbey noted in her writ.

“I am unable to deal with the enormous publicity. It has impacted heavily on my mental health.”

She also alleges that Telecel’s actions were deliberate and targeted, exploiting her vulnerable position as a market trader for corporate gain. She warns that the company is likely to continue its conduct unless the court intervenes.

Madam Abbey is seeking three key reliefs from the High Court:

1. A declaration that Telecel violated her privacy and personal liberties.

2. A declaration that her image rights were abused through the unauthorized use of her photo.

3. An order directing Telecel to pay GH¢2,000,000.00 as compensation for the alleged violations.

Additionally, she wants all advertisements bearing her image whether on billboards, social media, or any other platforms to be pulled down.

AM/KA

Over the years, many economists and finance experts have espoused laudable ideas and proposed various initiatives to revive and make the country’s oil refinery entity, the Tema Oil Refinery (TOR) viable.

A strong TOR has manifold benefits to the functioning of the Ghanaian economy in various aspects, stemming from energy and fuel security and sustainability, stability of fuel prices, potent weapon for mitigating foreign exchange pressures/volatility , strengthen Ghana’s trade balance. seeking multi-sectorial industrial expansion and economic diversification through to balancing of the economic fundamentals to ensure sustained economic recovery

The Current State

TOR, established in 1963, currently has a total installed capacity of 45,000 barrels per stream per day (bpsd). Over the decades, Ghana’s only petroleum refinery has been dormant because of operational and financial challenges, including maintenance issues, capacity under-utilisation, operational inefficiencies, under-investment, incoherent policies, financial mismanagement and political interference.

Currently, TOR only supports importers of finished petroleum products with its facilities. The refinery has a crude storage capacity of 1,925,348 barrels across 59 tanks, representing 44% of Ghana’s national storage capacity. TOR is also the country’s sole producer of Premix fuel and operates the largest LPG storage facility in Ghana. Looking ahead, the refinery is seeking $25 million to support the maintenance and reactivation of an essential unit within its crude distillation unit. The goal is to enhance operational efficiency and ensure TOR’s continued role in sustaining national fuel distribution and energy security.

Ghana is poised for a significant expansion in crude production. Backed by over 1.1 billion barrels of crude oil reserves and 2.1 trillion cubic feet of natural gas, the country is said to be ramping up production. This must be backed by indigenous refinery efforts.

There is an urgent need to inject new capital and technical expertise into the refinery, open up the place to partnerships to rejuvenate the fortunes of the ailing Tema Oil Refinery (TOR) as the refinery is in dire need of partnerships to help retool, modernize and expand its capacity. The revival of TOR is seen as critical to reducing Ghana’s dependence on imported refined petroleum products and strengthening the country’s energy security.

An OILBOARD to the Rescue?

The country is already reaping the benefits of the novel Gold-for-reserve programme which is being bolstered by the establishment of GOLDBOD. The Cedi is gaining momentum and has held ground against major currencies in the past months. This has been attributed in part to the growing Gold reserves the country is accumulating. Considering this evidential success, can we replicate the same in the petroleum sector to rescue TOR?  

An OILBOARD, just as a GOLDBOD in the mining sector, could be replicated in the oil sector through reviewing the acts that established the National Petroleum Authority (NPA) and the Petroleum Commission to envelop this innovation to help revive and revamp TOR.

In Ghana, large-scale mining firms are required to retain 20% of their gold output domestically to support the country’s gold reserves programme. This could be replicated in the oil sector to feed TOR.

An OILBOARD should be championed by reaching an agreement with the upstream Oil companies, mandating them to sell a portion of their crude production to TOR and receiving cedis at a 1% discount to international crude spot prices. This structure guarantees a domestic market for drilling companies while providing the government cost-saving benefits including TOR’s revival. Thus, the OILBOARD will purchase 20% of the monthly output of oil firms for TOR through the Bank of Ghana. Purchases are settled in the Ghanaian Cedi currency. This proposal will be a comprehensive turnaround strategy aimed at reviving the state-owned refinery after years of inactivity and is critical to Ghana’s economic recovery.

Every 10 barrels of oil produced from our fields, at least 1 or 2 barrels being 10% or 20% must be sold to TOR. To show good faith, the government’s share of the output should also be given to TOR. With this initiative, foreign exchange demand for oil importation would be conserved. This collaborative effort between the public and private sectors will breathe new life into the once-thriving refinery, making a potential turning point in the facility’s trajectory a necessity

The total consumption of petroleum products is projected at 5,484.73 kilotonnes, a 5.13% increase over 2024, driven by increased demand for gasoil, gasoline, and LPG. Ghana’s crude oil production is approximately 186,000 barrels per month. The country’s total crude oil exports reached around 48 million barrels in 2023. As of December 2024, the crude oil production capacity in Ghana stood at 188,000 barrels per day, Overall, a total of around 5.3 million metric tons of petroleum products were consumed in Ghana in 2024.

Currently, TOR only supports importers of finished petroleum products with its facilities. The refinery requires an estimated $25 million to undergo a complete revamp and resume full operations. This could be provided for in 2026 budget as a step forward to attracting strategic private sector investment to restore TOR to optimal performance

Securing the necessary funds through key partnerships and the introduction of the OILBOARD would allow the refinery to function at full capacity, ensuring efficient fuel production at competitive costs. The overarching goal of this innovative programme is to stabilize fuel prices and reduce dependency on foreign currencies for oil imports, conserve foreign exchange reserves, promote economic stability and self-sufficiency.

The OILBOARD Potential Benefits

The new oil board programme in Ghana will strategically devise means to eliminate the necessity for foreign exchange in the pricing mechanism of petroleum products. By intentionally excluding the exchange rate from the pricing formula for fuel and utilities, domestic fuel vendors are relieved of the requirement for foreign currency when importing petroleum products.

This policy shift has a benefit of lowering product prices at the pumps, offering relief to the Ghanaian population. The innovative approach of eliminating the dollar component in pricing calculations will translate into tangible benefits for consumers, providing economic relief and contributing to a more stable domestic market. This approach will not only sustain the positive impacts achieved but also serve as a model for responsible and innovative economic recovery and indigenization

Furthermore, currency instability remains a significant concern for the business community, as it increases the cost of doing business and surges inflation. When importers require more Cedis to obtain foreign currencies, prices inevitably go up, affecting every Ghanaian. Given the assured sources of supply of crude locally, TOR could leverage its balance sheet to raise bonds to wean itself off government support.

TOR’s rejuvenation will empower local businesses and entrepreneurs by creating opportunities in the oil and gas value chain. By reducing reliance on imported refined products, the country can stabilize fuel prices, mitigate foreign exchange pressures, and strengthen its trade balance. It will also ensure Increase employment levels across various sectors, from skilled refinery technicians to supply chain managers and local service providers.

Financially, TOR’s revitalization is expected to contribute significantly to GDP growth. Ghana’s petroleum sector currently accounts for approximately 7% of GDP, and with improved refinery operations, this contribution could rise to over 10% within the next five years. Moreover, efficient refinery operations will minimize fiscal losses associated with importing petroleum products, potentially saving the economy millions of dollars annually.

A rejuvenated TOR through the OILBOARD initiative will enhance national capacity by fostering knowledge transfer, technological development, and industrial expertise among Ghanaians. Local businesses involved in logistics, transportation, and petroleum retailing will have expanded market opportunities.

Strengthening indigenous capacity in the petroleum industry aligns with the vision of reducing dependency on foreign aid and fostering self-sufficiency. Technical training institutions and vocational centers can align their curricula with the industry’s evolving needs, thereby creating a skilled workforce.

The price of oil is closely tied to the world’s economy, and fluctuations in oil prices can have a significant impact on global markets. TOR when fully operational will serve as a hedging mechanism against crude oil market disruptions like wars, natural disasters etc such as the current Israel -Iran war, Russia-Ukraine war and COVID-19 pandemic

Revamping of TOR will ensure the reliability of petroleum products on the Ghanaian market and to export to the ECOWAS Sub-region.

We can as a nation and as a matter of utmost priority make TOR become the first choice for Bulk Distribution Companies (BDC) for finished petroleum products. Government must avert its mind to and explore the opportunities abound in the petrochemical sector of the petroleum value chain.

This initiative will occasion a crucial step towards economic resilience and self-reliance. By prioritizing local participation, empowering indigenous businesses, and aligning with broader economic sustainability goals, this initiative will have far-reaching effects on employment, industrialization, and national energy security. With the right approach, TOR can be transformed into a model refinery that supports national development and positions Ghana as a formidable player in the global petroleum industry. So, I say, an OILBOARD could do the rescue we have been chasing over decades.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.