Business News of Wednesday, 4 June 2025
Source: www.ghanawebbers.com
Deputy Government Spokesperson Shamima Muslim urges Ghanaians to support the new fuel levy. She believes it is essential for maintaining the country's power supply and energy security.
In a Facebook post on Tuesday, Shamima noted recent economic improvements. The Ghanaian cedi is strengthening, and fuel prices are falling. However, she stressed that more action is needed to keep the lights on.
“Cedi is appreciating, inflation reducing, fuel prices reducing,” she wrote. “But we need money to buy more liquid fuels—cheaper now—to power our generation plants.” She added, “Only 1 cedi per litre & together we will reset.”
Her comments followed Parliament's passage of the controversial fuel levy bill early on June 4. Finance Minister Dr. Cassiel Ato Forson introduced the bill urgently. It imposes a GHC 1 per litre levy on petroleum products. The minority caucus walked out in protest over what they called "insensitive" timing.
Dr. Forson defended the levy, citing a $3.1 billion debt in the energy sector as of March 2025. He assured lawmakers that recent gains in the cedi’s value would neutralize any impact on fuel prices at the pump.
“Consumers will not feel an immediate increase in fuel costs,” Dr. Forson stated. “The exchange rate gains will absorb the levy’s effect.”
Despite political opposition, the government insists this levy is crucial for stable electricity supply. Liquid fuels are now more affordable and necessary for thermal generation plants.
As public reaction unfolds, Shamima Muslim aims to rally support for this measure. She portrays it as a patriotic contribution toward sustainable energy and economic resilience rather than an additional burden.