The Vice President of Ghana, Dr. Mahamudu Bawumia has announced the conclusion for the arrangements of the operationalization of the Gold for Oil Policy.
In a statement made by Dr. Bawumia today, 22nd December, 2022, he congratulated the efforts of the government and institutions behind the success of the policy.
The Gold for Oil Policy saw the light with the collective efforts of the Minister for Energy, the Minister of Lands and Natural Resources, the Governor of the Bank of Ghana (BoG), the Chamber of Mines, PMMC, NPA, and BOST.
Under the policy, the first oil products will be delivered effectively in January 2023.
Earlier in November this year at the 2022 AGI Awards held at Accra, Dr. Bawumia touched on the Gold and Oil Policy where he said
“If we implement the gold for oil policy as it is envisioned, it will fundamentally change our balance of payments and significantly reduce the persistent depreciation of our currency with its associated increases in fuel, electricity, water, transport, and food prices”.
After the successful arrangement of the policy, Ghanaians are will anticipate the needful come 2023.