The Ranking Member of Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has criticised the government’s claims of economic recovery, arguing that the ruling National Democratic Congress (NDC) appears out of touch with the realities facing ordinary Ghanaians.

According to the Member of Parliament for Ofoase–Ayirebi, government officials seem to believe that declining inflation and a strengthening cedi are sufficient indicators of economic improvement, yet the situation on the ground tells a different story.

Speaking on the floor of Parliament during the debate on the State of the Nation Address delivered by President John Dramani Mahama, Oppong Nkrumah described the government’s narrative of recovery as a “charade” that does not reflect the lived experiences of citizens.

He said recent tours undertaken by the Minority across several regions revealed widespread economic hardship that sharply contradicts the government’s claims.

According to him, many farmers are struggling to sell their produce due to a severe liquidity crunch in the economy.

“Maize farmers are crying because they cannot find buyers for their produce due to the limited liquidity in the system,” he said.

He added that cashew farmers in the Brong and Ahafo regions are facing similar challenges, with large quantities of their produce reportedly going unsold because buyers lack the financial capacity to purchase them.

Oppong Nkrumah also raised concerns about cocoa farmers, warning that some are contemplating selling their farmlands to illegal miners due to the economic pressures confronting them.

“The least said about cocoa farmers, the better. Some of them are contemplating selling their farmlands to galamsey operators,” he remarked.

Turning to the industrial sector, the former Information Minister argued that the manufacturing industry is under severe pressure due to rising electricity tariffs, which he said are threatening the viability of many businesses.

He noted that the high cost of power is also affecting the services sector, including small-scale enterprises such as hairdressers, welders, and technology professionals.

“The service sector—hairdressers, welders, computer coders—are all struggling to remain operational because of the high cost of electricity,” he stated.

Oppong Nkrumah stressed that genuine economic improvement must translate into better conditions for key sectors such as agriculture, manufacturing and services.

“The economy can only be said to have improved when our compatriots in the agricultural, manufacturing, and service sectors are experiencing better conditions,” he said.

He also criticised what he described as the government’s heavy reliance on headline inflation figures as proof of economic stability.

“Mr Speaker, we on the Minority side are not surprised that the Majority is fixated on the claim that inflation is at an all-time low,” he said.

According to him, the current methodology used to measure inflation does not necessarily capture the hardship being experienced by citizens.

“The manner in which inflation is measured means it could theoretically fall to zero while citizens continue to endure severe hardship,” he argued.

Oppong Nkrumah further alleged that the government has relied heavily on monetary sterilisation measures, which he said have significantly reduced liquidity in the economy.

“Mr Speaker, the government has resorted to sterilisation. Just last year alone, over GH¢62 billion was mopped out of the economy. Under such circumstances, inflation may decline, but economic activity will stagnate because demand is suppressed,” he explained.

He also accused the government of engaging in rebranding exercises rather than implementing substantive policy reforms.

As examples, he cited the transformation of the Precious Minerals Marketing Company into the Ghana Gold Board and the reclassification of the Kasoa–Cape Coast highway project under the government’s “Big Push” infrastructure programme.

Oppong Nkrumah additionally criticised the Majority for what he described as its failure to adequately respond to oversight requests from the Minority, including probes into Ghana’s gold reserves accumulated under the previous New Patriotic Party administration.

He also referenced concerns about an alleged $214 million loss linked to the operations of the Ghana Gold Board, insisting that Parliament must demand full accountability.

The Minority, he said, will continue to press for transparency and policies that directly address the economic realities confronting Ghanaians.

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