The Minority in Parliament has strongly contested the President’s recent State of the Nation Address (SONA), accusing him of misrepresenting economic realities and presenting what they term a “False State of the Nation.”
Addressing the press at Parliament House on March 3, 2025, the Minority, led by the New Patriotic Party (NPP) Caucus, delivered a counter-statement titled “The True State of the Nation”, offering an alternative perspective on Ghana’s economic performance and governance.
A key point of contention was the President’s claim that headline inflation at 23.8% exceeded the IMF target of 18%, which he cited as evidence of poor monetary policy management.
The Minority, however, argued that this assessment ignored the broader economic context.
They highlighted that inflation had peaked at 54% in 2022 due to global crises such as COVID-19 and the Russia-Ukraine war but had since dropped significantly to 23% by the end of 2023.
They contended that this was a positive indicator of economic recovery, albeit still above the long-term target.
Furthermore, the Minority praised the previous administration’s achievements, pointing out that Ghana’s GDP growth for the first three quarters of 2024 was 6.4%, surpassing the IMF’s target of 4%. They also noted the country’s trade surplus of 5.9% of GDP in 2024, compared to a 2% deficit in 2016 under the Mahama administration.
Exchange Rate and Debt Management
On currency depreciation, the Minority acknowledged that the cedi depreciated by 19% in 2024 but argued that this was a substantial improvement from the 50% depreciation recorded in 2022. They attributed this stability to the $8.9 billion in international reserves left by the previous administration, which they claim is now being used by the current government to stabilize the currency.
Regarding Ghana’s debt situation, the Minority rejected the President’s concerns about GHS280 billion in debt service obligations over the next four years. They emphasized that through negotiations with official creditors and Eurobond holders, the previous administration secured $2.8 billion in debt relief and $4 billion in debt cancellation, which they argue significantly reduced Ghana’s debt burden.
Energy Sector and “Dumsor” Concerns
The recurrence of power outages (dumsor) was another major point of debate. The Minority accused the President of failing to acknowledge the $6.2 billion spent by the previous administration to sustain energy supply. They claimed that the return of power cuts under the new government raises concerns about economic productivity, urging the government to publish a load-shedding timetable to help businesses plan accordingly.
Insecurity and Lawlessness
The Minority also raised alarm over rising insecurity since the December 2024 elections, citing incidents of violence, attacks on security agencies, and political disturbances. They accused the government of failing to curb growing lawlessness, referencing reports of violent clashes, arson at Electoral Commission offices, and politically motivated attacks.
Education and Infrastructure Development
On education, the Minority challenged the President’s assertion that Ghana’s education system is outdated, arguing that STEM schools, TVET investments, and the Free SHS program introduced by the previous administration have modernized the sector. They also rejected claims of stagnation in infrastructure development, citing major road projects, housing initiatives, and progress on Agenda 111 hospital projects.
Conclusion: A Call for Accountability
The Minority concluded by warning against potential tax increases, predicting that the government’s planned GHS200 billion tax revenue target would result in excessive taxation. They vowed to oppose any attempts to introduce new taxes while holding the government accountable for its promises.
They urged Ghanaians to scrutinize the administration’s policies, insisting that the economy was on a positive trajectory before the change in government and warning against policies that could reverse these gains.
