In a striking critique of Ghana’s energy policy trajectory, Franklin Cudjoe, Founding President of IMANI Centre for Policy and Education, has lauded former President John Dramani Mahama’s record in attracting foreign direct investment (FDI).
However, the renowned civil and public policy activist, in his scathing critique, strongly criticized the policy missteps under the ruling New Patriotic Party (NPP) administrations since 2017.
Writing on the subject, Mr. Cudjoe recalled attending a recent event organized by the Coalition of Foreign Chambers of Commerce, where Mr. Mahama outlined the National Democratic Congress’s (NDC) strategy to attract and sustain foreign investments.
“An executive of Kosmos Energy confirmed that John Mahama’s tenure saw a $13bn investment ( the highest Foreign Direct Investment attracted by any president in the fourth republic) into the most critical sectors- oil and energy and infrastructure, such as the Terminal 3. -in just four year”.
Franklin Cudjoe, Founding President of IMANI Centre for Policy and Education
Franklin Cudjoe emphasized that the strategic investments made during former President Mahama’s tenure laid the foundation for key national infrastructure projects like Terminal 3 at the Kotoka International Airport and significant progress in the oil and energy sectors.
These initiatives, he noted, bore fruit after the National Democratic Congress left office in 2017, driving Ghana’s transition out of the debilitating energy crisis, popularly known as dumsor, and fueling GDP growth rates averaging 7% in 2017 and 2018.
Mr Cudjoe credited these achievements not to the “economic wizardry or dexterity” of the ruling New Patriotic Party administration but to former President Mahama’s “far-sightedness” in fostering sustainable growth through targeted investment.
Criticism of NPP’s Policy Failures
Highlighting the failures of the ruling government, Franklin Cudjoe, who doubles as the Chief Executive Officer of the renowned policy think-tank, strongly criticised the New Patriotic Party’s stewardship of Ghana’s energy and investment sectors.
He accused the current and previous energy ministers, including John Peter Amewu and Dr. Matthew Opoku Prempeh (NAPO), of engaging in “big talk” with little substance. “All they added was huge judgment debts,” he stated, referencing the government’s handling of disputes such as the contentious ENI case.
Mr Cudjoe described the government’s Aker Energy deal as “shamefully shambolic,” blaming poor arithmetic and policy mismanagement for the debacle.
This, he argued, showcased the ineptitude of the current administration’s leadership in building upon the foundations laid during Mahama’s administration.
Reflecting on the missed opportunities over the past eight years, Franklin Cudjoe decried the lack of foresight and strategic planning in the NPP’s approach to managing the oil and energy sectors.
He pointed out that instead of leveraging Mahama’s groundwork to drive further growth, the government’s actions have been marred by “big talk and high school playground fighting” with international energy giants like ENI.
Mr Cudjoe underscored the critical importance of visionary leadership in attracting and managing foreign investments to drive national development.
His reflections also underscored the urgent need for Ghana to refocus its energy policies to maximize the benefits of its oil and gas resources while avoiding the pitfalls of mismanagement and inefficiency.
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