President John Dramani Mahama has aligned with former Chief Justice Sophia Akuffo’s call for a review of agreements governing Ghana’s extractive industry.
The former Chief Justice, now a Member of the Council of State, raised concerns in a media interview in Accra, questioning the policy framework for mineral extraction and the allocation of proceeds between the state and foreign investors.
She described Ghana’s mineral concession agreements as highly unfavorable to the country.
“We are still doing it like we are in the days of Guggisberg,” she remarked.
Delivering a keynote address at the opening of the National Economic Dialogue in Accra, President Mahama expressed agreement with her stance.
“Just recently, I think yesterday, the former Chief Justice of this country asked for a review of agreements governing our extractive industry. She described the current agreements as coming from the Guggisberg era. I agree with her,” he stated.
The President emphasized the need for increased indigenous participation in Ghana’s natural resource exploitation.
“Ghana must earn more from its natural resource endowment if we are to create wealth and prosperity for our people, my fellow citizens,” he said.
Mahama further highlighted agriculture as a crucial sector requiring modernization through mechanization, improved irrigation, and technology-driven innovations to boost productivity and food security.
He stressed the importance of leveraging technology to bridge the digital divide, ensuring that all Ghanaians, regardless of location or background, could access opportunities in the digital economy.
“High-speed internet and robust digital infrastructure are no longer luxuries; they are necessities that fuel economic growth and global competitiveness,” he noted.
The President underscored the urgency of governance reforms to promote transparency and hold leadership accountable to the people.
He argued that policies to stabilize and sustain Ghana’s economy must receive multi-stakeholder buy-in, moving away from short-term economic decisions towards medium- and long-term strategic planning.
“The short-term convenience that has informed economic decision-making in the past must give way to long-term strategic planning, helping us avoid the cyclical economic booms and busts that have wreaked havoc on our people,” he stated.
Mahama affirmed his political will to implement such reforms but insisted they must be informed by collective input from stakeholders.
“That is why we have organized the National Economic Dialogue,” he said.
He described the Dialogue as a turning point where Ghana must shift from diagnosing economic challenges to implementing pragmatic solutions for sustainable growth.
The National Economic Dialogue, themed “Resetting Ghana: Building the Economy We Want Together,” aims to communicate the true state of Ghana’s economy, develop a homegrown fiscal consolidation programme to guide the national budget, and highlight key structural reforms and policy priorities.
A similar Dialogue was organized 10 years ago during Mahama’s first administration.
Source : GNA
