ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
It calls for a fundamental shift in how African nations relate to one another and to the world, from dependence to self-reliance, from fragmentation to integration, and from reactive postures to strategic leadership.
Mr Speaker, These two agendas are deeply interlinked.
We cannot build lasting prosperity at home without contributing to stability and growth across our continent.
Equally, we cannot lead effectively on the continental stage if our own house is not in order.
Together, these frameworks demonstrate our determination to restore hope, not merely as a promise but as a lived reality for Ghanaians and Africans alike.
As we build on the foundation laid in 2025, the first year of my return to the Presidency, we do so with clarity of purpose, unity of action, and confidence in our ability to deliver a future worthy of our people's sacrifices and aspirations.
Mr Speaker, This moment of national renewal unfolds against the backdrop of a world in profound flux.
The global order we once knew is being rapidly reshaped, and the so-called "rules-based international system" endures only as long as it protects the advantages of those who designed it.
Once emerging nations begin to operate within those same rules to rebalance power, the very architects of that order prove willing to relax their commitments.
Ghana, like many nations, has learned this hard truth.
We cannot respond to this new reality with fragmentation, hesitation, or continued dependence.
History has long taught us that resilience and prosperity will not be handed to us—they must be built deliberately through cooperation, self-belief, and strategic alignment.
The era ahead demands that Africa move from a posture of dependence to one of collective self-reliance.
Mr Speaker, It is in this spirit that Ghana has sought to play a convening and catalytic role on the continent.
In the middle of last year, our capital, Accra, hosted African Heads of State, policymakers, and development partners for a landmark Health Sovereignty Summit.
Together, we charted a new roadmap for healthcare financing and collaboration among African nations.
The message was clear: Africa must take ownership of its health security, pool its resources, deepen collaboration, and design financing solutions that reflect our realities rather than external prescriptions.
Strong economies require healthy populations, and health sovereignty is inseparable from economic sovereignty.
The same logic applies to trade, industry, and growth.
Africa's future lies in dismantling artificial borders, removing bottlenecks that stifle commerce, and fully activating a common market that allows our goods, services, capital, and ideas to move freely across the continent.
No single African country, no matter how well-endowed, can thrive alone in this new global environment.
Rather, when we work together, our combined markets, youthful population, natural resources, and creativity will constitute one of the greatest economic opportunities of this century.
Africa must summon the courage to shape its own destiny.
Building genuine sovereignty across Africa.
The Global South requires a deliberate and disciplined plan, one that begins with: Unlocking the immense human and creative potential of our young people; Strengthening regional value chains to add value to what we produce; Mobilising domestic capital to finance our own development, and Speaking with a single, coordinated, and confident voice in global affairs.
Mr Speaker, This is how Africa can move from promise to power, from participation to leadership, and from dependence to dignity.
The path forward is clear.
Africa must rise with confidence, unity, and purpose.
Ghana stands ready not only to rebuild at home but also to work hand in hand with our African brothers and sisters to shape a future defined by shared strength, dignity, and prosperity.
Mr Speaker, We have resolved here in Ghana to operate with our eyes open to protect our sovereignty and to design policies that place our people first.
We will continue to engage with the world, but on terms that reflect our interests.
We will uphold global norms, but we will not outsource our judgment.
And we will build resilience at home so that shifts in external power do not translate into hardship for our citizens.
Mr Speaker, When I last came before this House, I spoke candidly about the depth of the challenges we had inherited across all facets of our nation.
Nowhere was this national malaise more evident than in the economy.
We inherited an economy in severe crisis—burdened by unsustainable debt, high inflation, a rapidly depreciating currency, and an escalating cost-of-living crisis that had left our citizens reeling from unimaginable hardship caused by years of general imprudence and reckless management of the economy.
I was clear from the outset that recovery would not come easily.
I was also clear that I would stop at nothing to turn the situation around and bring relief to Ghanaians.
I promised that, just as I have confronted and overcome crises in the past, I would reset our economy and return us to a path of growth, progress, and development.
I told this August House when I appeared before you last year that we would have to take tough, prudent, and necessary decisions to restore stability and credibility.
Today, I can say with confidence: Ghana is back.
Ghana is working again and is open for business.
The fundamentals are improving, and the path to sustained acceleration is clear.
From the outset, we resolved to choose discipline over waste, reform over excuses, and stability over speculation.
As a responsible government, our first order of business was to halt the economic haemorrhage and restore order to our public finances.
We tightened expenditure and commitment controls, improved payables reporting, and conducted a comprehensive audit of 2024 commitments to restore credibility and discipline.
These measures have begun to deliver some of the most remarkable economic outcomes in decades.
Mr Speaker, As we approach the celebration of our 69th Independence Anniversary, we do so not only with pride in our past but also with renewed hope for our future.
We are Building Prosperity through sound policy, responsible governance, and inclusive growth.
We are Restoring Hope by delivering on our promises and proving that good leadership makes a measurable difference in people's lives.
The Resetting Ghana Agenda is working.
The Accra Reset is gaining momentum.
And together, they are laying the foundation for a stronger, more resilient, and more prosperous Ghana.
Mr Speaker, Our nation is on the runway.
It is in take-off mode, and you are all advised to fasten your seatbelts.
The journey continues.
But the direction is set.
And the hope is real.
Our theme today, Building Prosperity, Restoring Hope, is not merely aspirational.
It reflects the tangible transformation we have delivered for the Ghanaian people.
Our economy has grown significantly.
In 2025, Ghana’s GDP is expected to reach $113 billion, up from $83 billion at the end of 2024.
This has placed Ghana among the top 10 largest economies in Africa.
Average GDP growth for the first 3 quarters of 2025 is reported at 6.1%.
But growth means nothing without discipline.
Our primary surplus reached 2.6% of GDP, far exceeding our 1.5% target.
Our fiscal deficit closed at 3.1%, well below the projected 3.8%.
This is not just prudent governance; it is promise-keeping.
It has benefited households and businesses because we have borrowed less and spent more responsibly, interest rates have fallen, confidence has returned, and private businesses are breathing again.
Mr Speaker, The 19 th of December 2022 will go down as one of the darkest days in Ghana’s economic history.
Ghana declared its inability to honour its debt obligations.
We declared a debt default and placed a moratorium on both domestic and foreign debt repayments.
Following this, we entered a protracted and complex debt restructuring process.
Ghana’s debt became a shackle on our economic progress, dragging our nation into hardship and despair Looking at Ghana’s restructured debt profile, it is clear the negotiators on our side were intent on kicking the can down the road, with the largest repayments scheduled between 2025 and 2028.
We confronted this crisis with action, not rhetoric.
We established sinking funds, restructured obligations, and pursued bilateral agreements.
Public debt fell by GH¢82.1 billion, from 61.8% to 45.3% of GDP.
This is one of the sharpest reductions in our history.
We settled a US$709 million Eurobond ahead of schedule, completing US$1.4 billion in debt service for 2025.
And the world noticed.
Fitch, Moody's, and S&P all upgraded Ghana's credit ratings—the first triple upgrade in years.
Ghana’s credibility is restored.
Ghana is rising.
The heaviest burden we inherited was the very high inflation, which was silently eroding every household’s purchasing power.
It peaked at 54.1% at the end of 2022 and declined to 23.5% by the end of 2024.
We treated it as the emergency it was.
Through fiscal consolidation, currency stabilisation, and disciplined monetary policy, inflation fell from 23.5% to 3.8% over 13 consecutive months by January 2026.
Food inflation fell by 26.6 percentage points.
Inflation for locally produced goods fell by 22.6 points.
These are not statistics, Mr Speaker.
They translate into the reality of parents being able to put meals on the table for their children, and into the reality of businesses thriving and creating opportunities for Ghana’s youth.
Petrol prices dropped from GHS15.20 to GHS10.70 per litre.
It recently dipped below the GHS10 mark for the first time in many years.
Diesel fell from GHS15.40 to GHS11.30.
This brought relief to our nation's 3.7 million car owners and tens of millions who depend on transportation daily.
Mr Speaker, Exchange rate volatility has long been at the heart of the hardship Ghanaian households face.
We made currency stability a priority, and we have delivered.
We did not arrest the dollar; we strengthened the cedi to put up a good fight against the other currencies.
I am pleased to report to this House that the cedi appreciated by 40.7% against the US dollar, 30.9% against the pound, and 24% against the euro.
Speaker, Ghana’s economic turnaround is broad-based and comprehensive.
All sectors of the Ghanaian economy have witnessed remarkable improvement in the first year of my return to the Presidency.
Most importantly, Ghana’s economy has surpassed the $100 billion mark and is projected to place Ghana among the top 10 economies in Africa.
Our reserves currently stand at $13.8 billion, covering 5.7 months of imports.
A key driver of this development has been the establishment of the Ghana Gold Board.
By formalising gold exports, we reduced smuggling, increased recorded exports in the artisanal and small-scale mining sector from 63.6 to 103 tonnes, and channelled foreign exchange into our economy.
When the cedi stabilises, imported inflation falls.
Businesses can plan more effectively, and household incomes improve.
Speaker, As global uncertainty grows, it is necessary to reduce our country’s exposure to external shocks, break the cycle of economic downturns, and safeguard macroeconomic stability.
Just last Wednesday, 25 th February 2026, the Minister for Finance presented the Ghana Accelerated National Reserve Accumulation Policy to this House.
The policy seeks to strengthen our country’s external resilience by increasing our international reserves to 15 months of import cover by the end of 2028, supporting long-term structural transformation while safeguarding macroeconomic stability.
Speaker, We have an opportunity to build an economic war chest to withstand global economic shocks, secure macroeconomic stability, improve the standard of living for Ghanaians, and build lasting prosperity for future generations.
This is what the policy seeks to achieve.
We abolished the nuisance taxes levied on us between 2017 and 2024.
These include the E-Levy, Betting Tax, and Emission Tax.
We have reformed VAT comprehensively by: 1.
Abolishing the 1% COVID-19 Levy 2.
Decoupling GETFund and NHIL from VAT 3.
Reducing VAT from 21.9% to 20% 4.
Raising the VAT threshold to GH¢750,000 5.
Extending zero-rating on textiles to 2028 These fiscal reforms have effectively put GH¢6 billion back into the pockets of the Ghanaian.
Interest rates have fallen from above 30% to about 18%, freeing up credit for businesses and households.
According to the Ghana Statistical Service, over one million Ghanaians found employment between Quarter 1 and Quarter 3 of 2025, and 950,000 people escaped multidimensional poverty in the same period.
Mr Speaker, I am pleased to report that our external position has strengthened significantly.
By December 2025, our current account recorded a surplus of $9.1 billion, representing 8.1% of GDP.
This is a remarkable increase from $1.5 billion, or 1.8% of GDP, a year earlier.
This achievement has been driven by robust gold and cocoa exports and increased remittance inflows.
This improvement demonstrates that our economy is gaining strength and resilience on the global stage.
Mr Speaker, We have moved decisively from planning to action on our flagship 24-Hour Economy and Accelerated Export Development Programme.
Officially launched in 2025, this transformative initiative is designed to: 1.
Unlock round-the-clock economic activity 2.
Deepen value chains across key sectors 3.
Boost productivity and support export growth, and 4.
Create quality jobs in agriculture, manufacturing, logistics, and services.
On 6 th February 2026, this august House passed the 24-Hour Economy Authority Bill, establishing the regulatory framework and legal mandate necessary for full implementation.
Last week, at cabinet, I had the honour of signing this historic legislation into law.
All is now set for take-off.
This is the boldest economic transformation initiative in recent years.
GHS 110 million has been allocated in the 2026 Budget to begin implementation.
These resources will enable businesses to operate beyond traditional business hours, attract private investment through strategic partnerships with the Development Bank of Ghana and the Ghana Infrastructure Investment Fund, and strengthen the foundations for sustained growth and job creation, especially for our youth.
This is about building prosperity and restoring hope through concrete action.
Mr Speaker, a nation that does not learn from past mistakes cannot get out of the cycle of problems that impose hardship on its citizens.
We have just begun to emerge from the most devastating economic crisis in our nation's recent history.
This crisis was triggered by general financial indiscipline, huge deficits and massive debt occasioned by persistent unbudgeted expenditure to meet the ends of convenient politicking.
In the last few weeks, we have had to take the painful but necessary decision to revise the producer price of Cocoa to achieve competitive pricing and resolve acute liquidity challenges in the sector.
Failure to do so would have meant pumping in billions of borrowed funds.
This unplanned expenditure would have taken us right back to the very devastating economic problems we have only recently begun to escape.
So, while fully understanding the concerns and protests of our farmers, I can firmly assure them that the reforms announced by the government will bring about a total transformation of the sector and guarantee them a fair price that enables them to cover the cost of producing the commodity and make decent margins.
The difference between facing economic hardships and avoiding them is the exercise of sound economic judgement, and I am determined to make decisions that ensure our collective well-being and avoid suffering for all our citizens.
Speaker, We are bringing legislation to this House to tighten our procurement processes by banning sole-sourced contracts, except in exceptional circumstances.
We will also bring legislation to this House to make it mandatory to seek Parliament's prior approval before any government asset or property is leased or sold.
Last Tuesday, I caused the Minister for Finance to lay the Value for Money Office Bill before this august house.
This is a landmark measure, a fulfilment of yet another campaign promise to the good people of Ghana, designed to decisively end waste, inflated contracts, abandoned projects, and chronic cost overruns that have, for far too long, drained the public purse.
All these measures are intended to improve public trust and accountability.
Mr Speaker, In January 2025, we inherited an energy sector on the brink of collapse and precipitated by a severe financial crisis.
The sector was burdened with a staggering GHS 80 billion in legacy debts, threatening the operational viability of key power producers.
The $500 million World Bank Partial Risk Guarantee (PRG), a critical risk-mitigation instrument established in 2015 during my first term to safeguard nearly $8 billion of private-sector investment in the Offshore Cape Three Points (OCTP) field, had been fully exhausted due to prolonged non-payment for gas supplied.
At the distribution level, the Electricity Company of Ghana (ECG) was plagued by high commercial and technical losses, collecting only 62% of the energy it purchased and declaring less than 50% of its collections into the Cash Waterfall Mechanism (CWM).
This resulted in severe liquidity shortfalls and power supply challenges throughout 2024.
In the petroleum sector, years of policy inconsistency, regulatory inefficiencies, a lack of transparency, prolonged licensing processes, and unresolved legal disputes over field unitisation had eroded investor confidence.
Consequently, crude oil production declined by approximately 32% between 2019 and 2024, falling from 71.4 million barrels to 48.2 million barrels.
Mr Speaker, I am pleased to announce that, as of December 31, 2025, the Government has fully repaid and restored the entire $500 million World Bank PRG, including interest.
This has reinstated the facility in full and reaffirmed Ghana's standing as a credible and reliable partner on the global stage.
In addition, between January and December 2025, through carefully coordinated policy actions, the Government settled all outstanding gas invoices owed to ENI and Vitol, amounting to approximately $500 million.
Ghana is now fully up to date with its gas consumption obligations to the Sankofa partners.
The 2026 Budget has made adequate provision to ensure timely payments for all LNG going forward.
Mr Speaker, To ensure equity and fairness, the Government has also held constructive engagements with Tullow Oil and the Jubilee Field partners and reached a comprehensive roadmap to guarantee full payment for all gas consumed.
This approach supports reliable nationwide electricity generation and accelerates industrial growth.
Engagement with upstream partners has resulted in increased gas production, guided by a clear national vision to rapidly scale up domestic gas supply and reduce reliance on expensive liquid fuels.
Beyond clearing inherited arrears, a robust framework has been established to strengthen monitoring and implementation of the Cash Waterfall Mechanism.
Another major milestone was the operationalisation of the ECG Single Holding Account, overseen jointly by the Ministry and the Public Utilities Regulatory Commission (PURC).
This intervention has significantly reduced revenue leakage and enhanced ECG's capacity to meet its payment obligations.
To address the high cost of power, the government has successfully renegotiated existing Power Purchase Agreements.
Engagements with nine (9) Independent Power Producers (IPPs) have resulted in $250 million in immediate savings and $1.1 billion of debt restructured for payment in the period 2026–2028.
The revised agreements will be submitted to Cabinet and Parliament for approval and ratification.
Mr Speaker, Under the Rural Electrification Programme, 200 out of 400 communities have been connected to the national grid, with a further 100 at various stages of completion.
The national electricity access rate now stands at 89.05%.
We are committed to ensuring that every Ghanaian has access to reliable, affordable electricity.
It is worrying that the Electricity Company of Ghana continues to experience high power losses, with reports indicating that around 25% of generated power is lost.
To address this phenomenon and anchor the gains we have made, adopting private-sector involvement, particularly in billing and collections, is the most effective way to significantly reduce these losses.
Cabinet has approved the Multiple Lease Method for concessions in the distribution utilities, and work is ongoing to implement this critical reform.
Speaker, The Bui Power Authority has completed an additional 50MW of solar plant.
In the distributed solar sector, 30MW was achieved through rooftop installations, bringing the total installed capacity to 285MW and representing 5% of renewable energy in our generation mix.
A few months ago, I broke ground for a 200 MWp solar power project at the Dawa Industrial Zone, with the first 100 MWp scheduled for completion in December 2026.
Mr Speaker, The Ministry of Energy and Green Transition is constructing 35 mini-grids to serve 47 islands and lakeside communities in the Oti, Savannah, and Bono East regions.
The ministry will also supply 12,000 new smart net meters from the end of the first quarter of this year, 2026.
Under the off-grid solar home systems for public institutions, delivery of materials for the first phase of 350 systems has commenced.
Speaker, As part of the last-mile electrification effort to achieve 99.98% universal access by 2030, the ministry has mainstreamed mini-grids into the National Electrification Scheme (NES).
Consequently, a feasibility study for the Afram Plains North District was completed for 100 communities, bringing the total number of islands and lakeside communities in the Afram Plains North and South to 150, ready for mini-grid electrification.
The African Development Bank has committed to providing $100 million to fund the construction of renewable energy-based mini grids for these communities.
Speaker, I am pleased to announce that we have signed a Memorandum of Understanding with the Jubilee and TEN Field partners to commit $2 billion to additional investment in the Jubilee field.
This will include drilling up to 20 new wells.
There’s a second Memorandum of Intent with the OCTP Partners to commit $1.5 billion to additional investment in the OCTP field, the Cape Three Points Block 4 Contract Area, among others.
This agreement will significantly increase Ghana's oil and gas production, thereby enhancing energy security, domestic demand, and infrastructure development.
Mr Speaker, I am happy to announce that the government is on course to revitalise the Ghana Cylinder Manufacturing Company through a strategic partnership with the National Petroleum Authority, Ghana Gas, and the Ghana Commercial Bank (GCB).
This will boost production, ensure a steady supply of safe LPG cylinders, and strengthen local manufacturing.
As you all know, the Tema Oil Refinery is back.
The new management of the refinery has successfully completed extensive Turnaround Maintenance, and I am pleased to inform this August House that, for the first time since 2018, the refinery has commenced processing of crude oil.
Mr Speaker, Let me assure our countrymen and women that the energy sector reform continues unabated.
I remain fully committed to turning around the sector, strengthening its foundations, and ensuring reliable, affordable, and sustainable energy security for our nation.
Mr Speaker, Agriculture remains central to our national renewal.
Since January 2025, this administration has embarked on a decisive reset of Ghana’s agricultural sector under the Agriculture for Economic Transformation Agenda, with the Feed Ghana Programme serving as the flagship vehicle for implementation.
Our objective is clear: to restore food sovereignty, stabilise food prices, reduce import dependence, create decent jobs, especially for the youth, and reposition agriculture as a strategic growth sector under our 24-Hour economy policy.
In January 2025, food inflation stood at 28.3 per cent, following an unprecedented peak of 61 per cent in January 2023.