The Mahama-led National Democratic Congress government appears to be taking its insatiable appetite for loans that are expended on wild expenditures, which sometimes defy prudential reasoning, to unimaginable extent, with just about one month to elections.

Just last Friday, October 28, 2016, Parliament approved a €45.5 million loan facility for the construction of the proposed public university at Somanya in the Eastern Region.

Other loan facilities that have so far been approved by Parliament since its recall on September 23, 2016, include the $112 million for the construction of a new bridge over the Volta River in the lower basin of the Volta at Volivo in the Shai-Osudoku District of the Greater Accra region; the $ 83.4 million for the construction of a 3-tier signalized interchange at Pokuase Junction on the Ofankor-Nsawam Highway; the €72.8 million for the development of the Kumasi Airport; and the $56 million loan for the phase two of the design and construction of the Tamale Airport among others.

Out of the €45.5 million loan for the university project, the Mahama government is seeking to use a whopping €1.7 million ($2million) for the construction of a single residential accommodation for the Vice Chancellor of the proposed university.
Two similar accommodations will be constructed, each at the same cost, for the Pro-Vice Chancellor and another principal officer of the university which will have another campus at Donkokrom, also in the Eastern Region.

This means in all a total amount of GHC 24 million will be spent on the construction of the three housing facilities for only three officers of the university.

Meanwhile, the Minority in Parliament have raised concerns over this intended expenditure.

Speaking to the Daily Statesman, Member of Parliament for Ayawaso West Wuogon, Boakye Agyarko, stated that it was a travesty for the NDC government to budget GHC24 million just for the construction of three residential accommodations for the three principal officers of the University.

Mr Agyarko added that even though he was happy with the decision of the government to build a University in the Eastern region, he is completely against the misappropriation of state funds.

Though he is not against the government’s plan to establish a public university in the Eastern region, espically as a Krobo who hails from that area the university will be cited, the MP insists the amount involved in the housing facility is very outrageous.

“After scrutinizing the document, I found out that government has a budget for over 1.7 million euros, which works out to about 2 million dollars, for each of the three residential facilities they want to build. They said it’s for the Vice Chancellor, the Pro-Vice Chancellor and another. What this means is that, in total, six million dollars or twenty four million Ghana cedis would be spent. I think it is an outrage. Although I am all for the establishment for the university, I am completely against the misuse of the fund. That three housing would cost the taxpayer 24 million Ghana cedi. With that amount I am certain we can even build housing facilities for teachers,” Mr Agyarko added.

He continued, “I believe that the new house being built for the Vice President, who is the second gentleman of the land, will not even be two million dollars. There is something amiss. I think it is wrong. It is a misuse of funds. With 24 million Ghana cedis, we can build very good accommodation, of probably about 30 or 40, including one for the vice chancellor himself.”

Also, the Minority Leader, Osei Kyei-Mensah-Bonsu, questioned the timing of the loan, adding that the amount involved in the construction of the three residential facilities is outrageous.

“The Vice Chancellor's bungalow alone is going to cost us as a nation more than 1.7 million Euros. That should be around $2 million. Mr Speaker, that amount transforms to about GHc6 million which is about 60 billion old cedis. Where are we heading as a nation? This is dangerous for the economic health of this country,” he said.

Also, the Deputy Minority Leader, Dominic Nitiwul, said even though the idea of setting up the university is good, the money being put into it is too much for the country to bear.