The head of Legal Affairs for the National Democratic Congress, Godwin Edudzi Tamakloe, has rejected assertions that the Gold-for-Oil policy championed by Vice President Dr. Mahamudu Bawumia is having a positive impact.

According to him, the policy is a scam because the price of fuel keeps rising even though the policy was touted to stabilise it and even make it reduce.

Edudzi Tamakloe, who made these remarks in an interview on TV3, on Monday, April 8, 2024, said that fuel now costs an average of GH¢14 per litre despite the implementation of the Gold-for-Oil policy but the same amount of money would have been used to buy a gallon of the same product during the era of former President John Dramani Mahama.

“So, if you are saying that you brought this policy as it were to reduce the price of petroleum products, how come that today, a litre of petrol – what we used to call a beer bottle of petrol – is beyond GH¢14.75?

“So, how come this Gold-for-Oil programme has rather increased the price of petroleum products? It's a sham. It's a complete sham. Because you are saying that you are bringing an innovative programme to come and reduce the price of petroleum products. When you introduced this policy, the prices of petroleum products are rather going up," he said.

He added, “Under John Mahama, there was nothing like Gold-for-Oil, a whole gallon of petrol was selling for GH¢14… today just a litre is selling for GH¢14.75.”

BAI/ADG

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