His Excellency Nana Addo Danquah Akufo-Addo in his State of the Nation Address, claims that the Gold for Oil policy has been of vital aid to Ghana’s economy.

Speaking in Parliament on the 27th February, 2024, President Akufo-Addo blew trumpets for the implementation of the Gold for Oil policy. He stressed on the fact that, the policy had reduce immense pressure which was on the Cedi.

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“Mr Speaker, we have all heard about the Gold for Oil programme. It has been explained, debated and talked about. At this moment, all i want to say about it is that, the Gold for Oil programme has worked well and reduce significantly forex pressure,” He said.

The President further iterated that, the Programme had brought total stability on the prizes of fuels at the pumps.

“Premiums dropped from USD$150 to USD$200 per metric tons of less. It also resulted in reduce in stabilize prizes at the pumps between GH¢12 to GH¢13 per litre for the whole of 2023.”

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President Akufo-Addo assured Ghanaians to secure full participation in the Oil and Gas industry.

“We are taking steps to rectify some of the handicaps that has limited the full participation of Ghanaians in the Oil and Gas industry,” He added.


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