Dr. Mahamudu Bawumia Vice President and Flagbearer of the ruling New Patriotic Party Dr. Mahamudu Bawumia has outlined his government’s major priority to reduce the cost of living, addressing what he calls significant global inflationary pressures exacerbated by the COVID pandemic and the Russia-Ukraine war.
He stressed the need to tackle key drivers of cost of living increases, including food prices, energy prices, housing, and transport prices.
Regarding agriculture, Dr. Bawumia expressed his vision for attaining food security through technology and irrigation in large-scale farming.
He emphasized the promotion of agricultural lime to enhance soil fertility, leveraging Ghana’s abundance of limestone.
Dr. Bawumia pledged to prioritize the construction of the Pwalugu Dam using private sector financing to attract grant financing.
In transportation, Dr. Bawumia proposed reducing public transport costs by 30-40% through the adoption of electric vehicles (EVs).
He highlighted the stability of fares for EVs and the minimal reliance on fuel and spare parts, which contribute to cost reductions.
Under a Housing for All policy, Dr. Bawumia plans to partner with the private sector to build large housing estates without government borrowing.
He also aims to enhance the National Rental Assistance scheme to address issues such as demands for excessive rent advances.
In the power sector, Dr. Bawumia outlined plans for energy self-sufficiency at reduced costs through solar and renewable energy.
He proposed diversifying the generation mix with 2000MW of solar power and additional wind power by the end of his first term.
Dr. Bawumia emphasized the need for market efficiency and increased private sector participation in generation and retail to achieve reliable and cost-competitive power.
To support the transition to green energy, Dr. Bawumia announced the elimination of import duties on solar panels. These measures aim to attract manufacturing capacity, create jobs, boost exports, and enhance Ghana’s participation in intra-Africa trade under the AfCFTA.
Source: Mybrytfmonline.com/Obed Ansah
