A Resurgent Ghanaian Economy: Mahama Administration’s Policies Drive Cedi Appreciation and Fuel Price Reductions
The Ghanaian economic landscape is undergoing a significant transformation, marked by a strengthening currency and declining fuel prices. These positive shifts are attributed to the astute economic policies implemented by the John Dramani Mahama administration, a development lauded by the Gallant Cadres of the National Democratic Congress (NDC). The NDC Cadres, in a press release issued on May 4, 2025, commended President Mahama and his economic team, headed by Professor Jane Naana Opoku Agyemang, for effectively steering the nation towards economic stability.
Central to this economic revival is the remarkable appreciation of the Ghanaian Cedi against major trading currencies, particularly the US dollar. As of May 2, 2025, the Cedi traded at GH¢13.9070 per dollar, a substantial improvement from previous rates, signaling renewed investor confidence and the efficacy of the government’s fiscal interventions. This strengthening currency has played a crucial role in mitigating the impact of global economic fluctuations and stabilizing domestic prices.
Complementing the Cedi’s resurgence is a consistent decline in fuel prices. Beginning April 16, 2025, Oil Marketing Companies initiated a series of price reductions, providing much-needed relief to consumers across the nation. This downward trend is projected to continue into June, with petrol and diesel prices potentially reaching GH¢13–14 per litre. The NDC Cadres attributed this positive development to the government’s strategic initiatives, including the Gold-for-Oil program, which has insulated Ghana from the volatility of international oil markets.
This positive economic trajectory stands in stark contrast to the challenges experienced under the previous administration, which saw the Cedi depreciate by over 17% in 2024. The Mahama administration’s commitment to prudent fiscal management and innovative programs like the Gold-for-Oil initiative has demonstrably reversed this negative trend, ushering in an era of renewed economic stability. The NDC Cadres expressed their confidence in the government’s ability to maintain this positive momentum, ensuring long-term economic relief for Ghanaians.
The NDC Cadres emphasized the significance of these achievements, highlighting the restored confidence among Ghanaians in the government’s economic management. They believe that the current policies, coupled with the leadership of the Economic Management Team, have laid a solid foundation for sustained economic growth and prosperity. The Cadres further projected that President Mahama’s continued leadership will further solidify these gains, ultimately leading to a more prosperous future for Ghana.
The press release, signed by prominent members of the NDC Cadres, including Public Relations Officer Richard E. A. Sarpong (Father Casford), Deputy PRO Ohemaa Akosua Borngreat, Secretary Mr. F Kadan, and Chairman Carrick Kpeglo, served as a resounding endorsement of the Mahama administration’s economic strategies. The Cadres are confident that the current policies, including the innovative Gold-for-Oil program and a focus on fiscal prudence, will continue to yield positive results, steering Ghana toward a path of sustained economic growth and prosperity. This optimism is underscored by the recent positive indicators, including the Cedi’s strengthening against major currencies and the consistent decline in fuel prices, both of which are providing tangible relief to Ghanaians and bolstering confidence in the nation’s economic future.
