Former Finance Minister Seth Terkper is questioning the lack of significant progress witnessed under the Nana Akufo-Addo led administration despite the two fold increase in oil revenues being enjoyed by the government.
Unlike its predecessor administration which had revenues from one oil field, the Nana Akufo-Addo administration has over the past three years received revenues from 3 oil fields.
Despite this significant jump in oil revenues, Seth Terkper said the John Evans Atta Mills/John Mahama administration has more to show in terms of achievements.
He mentioned infrastructure in terms of hospitals, schools, roads, Upgrading of Airports including the terminal three at the Kotoka International Airport and the Atuabo Gas Processing Plant as evidence that the John Mills/John Mahama administration applied the resources from the petroleum sector better.
In addition to the infrastructure, Seth Tekper said the John Mahama administration was able to pay down the $550million 2007 bond using money from the Sinking Fund when it fell due.
He said the former administration was also able to provide relief for the June 3 Victims from the Contingency Fund.
The former Finance minister urged the incumbent government to show the investments it has made with the revenues from the three oil fields.
“No pre-COVID excuse to explain why with three oil fields vs. one since 2017, no Bond repayment from Sinking Fund (yet drawdown), no significant increase in Stabilization Fund (COVID savior), no investment to show from GIIF/ABFA. Applauding economy with IMF u-turn and two downgrades?” Seth Tekper said.
Source: Sena Nombo/Radiogoldlive.com
