President John Dramani Mahama has described the Oxygen City project as historic, noting that it is the first development of its kind to be undertaken by TDC Ghana Limited outside the Tema Acquisition Area since the company’s establishment.
Speaking at the sod-cutting ceremony, the President said the project represents a significant milestone in Ghana’s urban development history.
“This project is historic and the first of its kind, as Togbi Afede rightly said, being undertaken outside the Tema Acquisition Area by TDC,” President Mahama stated.
He recalled that TDC Ghana Limited was established by Ghana’s first President, Osagyefo Dr Kwame Nkrumah, and was originally granted the Tema Acquisition Area to develop industrial and residential communities.
“TDC was established by our first President, Osagyefo Dr Kwame Nkrumah, and granted the Tema Acquisition Area, which includes an industrial enclave and residential facilities,” he said.
According to President Mahama, the Oxygen City project marks TDC’s 27th community development.
“As the CEO has indicated, TDC has so far developed 26 communities, and this becomes their 27th community. So appropriately, this city is the seventh — a truly symbolic milestone,” he noted.
The President also announced plans to replicate the Oxygen City model in other parts of the country, starting with the Ashanti Region.
“I am happy to announce that the Ministry of Works, Housing, and Water Resources has been allocated land in Kumasi by Otumfuo, and this project will be replicated in the Ashanti Region,” he revealed.
President Mahama further unveiled major housing investments outlined in the government’s 2026 Budget, describing them as good news for Ghanaian workers.
“In the 2026 Budget, government has allocated half a billion cedis for housing specifically for district housing,” he announced.
He also explained that the allocation would run for three consecutive years.
“From 2026 through 2028, ¢500 million will be allocated each year. Over the next three years, ¢1.5 billion will be invested into the district housing scheme and what we call the ‘Own a Home’ project,” the President said.
President Mahama said the housing scheme will target Ghanaian workers across both the public and private sectors.
“These projects will be opened to Ghanaian workers, teachers, nurses, doctors, civil servants, and public servants,” he stated.
Under the scheme, beneficiaries will be required to pay an initial deposit, after which they can move into their homes while paying over time.
“You will pay a 25 percent deposit, be given the key to the house, and pay the balance over 15 to 20 years,” President Mahama explained.
He added that repayments will be deducted directly from beneficiaries’ salaries.
“The cost will be deducted in bits from your salary every month, so that by the time you retire, you have finished paying for the house and you have a home to go to,” he said.
The President further disclosed that the houses will be priced in dollars and offered at affordable interest rates.
“The houses will not be priced in dollars, but the interest rate will be very low single-digit interest rates and making them affordable for workers before retirement,” he assured.
President Mahama expressed gratitude to local authorities and traditional leaders for their support toward the project.
“I wish to express my appreciation to the Regional Minister, the Volta Regional Coordinating Council, the Municipal Assembly, our respected traditional leaders, and the people of Adaklu at Boko Pei for their cooperation and steadfast support,” he said.
In further announcements, President Mahama revealed plans to upgrade Ho and Hohoe to Metropolitan Assembly status.
“I have directed the Minister of Local Government to begin processes to upgrade Ho into a Metropolitan Assembly. Ho and Hohoe have both been identified,” he announced.
He noted that additional districts would also be upgraded to municipal status.
“Other districts will be upgraded to municipal status, and these will be announced in due course,” he added.
Reaffirming government’s commitment to sustainable urban development, President Mahama said reforms under the RESET Agenda will continue.
“Government remains firmly committed to creating the enabling environment for planned, transparent, and sustainable urban development,” he said.
He outlined key policy priorities, including housing finance reform, land administration, and public-private partnerships.
“We will deepen reforms in housing finance, strengthen land administration systems, promote credible public-private partnerships, and invest strategically in infrastructure,” the President stated.
President Mahama concluded by emphasizing the broader significance of the Oxygen City project.
“Today, we are planting more than just foundations for buildings, he added.
Story: Patrick Asford Boadu
