Ghana’s President Nana Akufo-Addo has said the country lost about $3 billion in economic activities during the power crisis (aka Dumsor) that hit the nation under the Mahama administration.
The President quoted figures from the Institute of Statistical, Social and Economic Research (ISSER) and said that Ghana lost about GHc618 million in economic activity in 2014 alone which he said is equivalent to 2 percent of GDP.
Nana Addo said that the four years of cumulative dumsor under Mahama’s regime led to a loss of more than $3 billion in economic activity, adding that lots of jobs were lost in the process as well.
He lamented that a number of small, medium and large scale operators were all brought to their knees as a result of four years of dumsor induced by the mismanagement of the energy sector by the past government.
Dumsor still prevailed in Maham’s tenure despite the gross increment of the cost of electricity tariffs and the introduction of new taxes in the petroleum sector.
Analysing further, the President said that in the year 2014, an industry which in 2008 had grown to 15.1 percent, slumped to 0.8 percent in 2015 to -0.3 percent and further down to -1.4 percent in 2016. Manufacturing Nana Addo said, recorded a negative growth of 0.3 percent. in 2015.
Earlier in May 2017, the President named some of his ministers and also revealed some changes which included the merging of the Ministries of Power and petroleum under the Ministry of Energy.
Nana Addo also announced Boakye Agyarko as the new minister for Energy. While nominating the Energy Minister, Nana Addo took out time to dwell on the need to eradicate the much-dreaded power crisis.
He also urged the new minister to tackle the electricity crisis with full force and ensure it remains in the past. Dumsor the popular name for the power crisis in Ghana has been an unwelcome and overstayed visitor in the country for a period of four years.
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