BY: MR OWUSU

Gold for oil is an innovative policy initiative proposed by the dynamic and versatile Vice President, Dr. Mahamudu Bawumia and implemented by the listening Akufo Addo government as an innovative way of preserving our foreign exchange to ease pressure on the Ghana cedi and also an innovative way to stabilize the prices of crude products on the domestic market.

This initiative since it's implementation has succeeded in stabilizing the prices of crude which has also indirectly stabilized prices of food and services. Before the introduction of Gold for Oil, prices of goods and services were always raising on a daily basis, transport fares were also increased on a weekly and monthly  basis. We will recall when a gallon of cooking oil rose to 1000cedis and 1,200cedis in some cases but after the introduction of Gold for oil the prices of gallon of cooking oil have stabilized at 500-600 cedis.

Infact,  there was a total chaos and impunity  in the country prior to the introduction of Gold for oil. Businessmen and women took advantage of the situation to exploit buyers, Commercial drivers took advantage of the situation to exploit passengers, farmers also took advantage of the situation to exploit consumers , the labor unions also took advantage of the situation to demand for pay increase which the government gladly obliged to. In all these developments the opposition NDC party and it members were the greatest beneficiaries as they took advantage of the situation to misinform the public. At the same  time NPP  members had joined the NPP members in Parliament to call for the head of the finance minister and by extension the Vice President.

The Vice President, Dr Mahamudu Bawumia with his exceptional competence has  to think through the situation to come up with  the idea of Gold for oil to tackle the raising inflation and most importantly to stabilize the prices of Crude in the domestic market and by extension to stabilize the prices of goods and services. This is person who could have resigned like the likes of Alan kyeremanten who couldn't stand to profess solution but the Vice President chose to stand with the people to propose solutions that have since brought relief to the people.

Dr. Mahamudu Bawumia has been a very active effective and efficient Vice President that the country has ever had in the history of our democracy. Infact when the history of our democracy is written in Ghana, Dr. Bawumia will occupy a special place because of his exceptional competence  and innovative mindset that have helped to restore normalcy in the chaos that bedeviled the country as a result  COVID-19 and Russia Ukraine war.

Dr. Bawumia's Gold for oil initiative will go in the history books of this country as the most important policy which turned the narrative of the economy to restore normalcy.

Ghana will forever be grateful to Dr. Mahamudu Bawumia.

*It is indeed possible*

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