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The National Petroleum Authority (NPA) has projected a decline in petroleum prices by mid-March 2025, attributing the expected reduction to falling crude oil prices and a slight depreciation of the Ghanaian cedi against the US dollar.

According to the latest Petroleum Price Indicators released by the NPA on February 28, 2025, crude oil prices have dropped by 2.03%, from $75.06 per barrel to $73.53 per barrel.

The decline is largely driven by global market uncertainties, including tensions between the U.S. and Ukraine, new tariffs imposed by Washington, and Iraq’s decision to resume oil exports from the Kurdistan region.

The projected price drop comes as welcome news for consumers, particularly transport operators and businesses that rely heavily on petroleum products.

It also aligns with broader global trends, as oil prices have faced downward pressure due to geopolitical and economic developments.

The NPA report indicates that if current market trends persist, fuel prices at the pump could see slight reductions in the coming weeks, providing some relief to Ghanaians amid ongoing economic challenges.

The National Chief Imam, Dr. Sheikh Osmanu Nuhu Sharubutu has made a passionate appeal to individuals and businesses to be charitable and generous to the less privileged in the society especially during the holy month of Ramadan. 

According to him, the significance of Allah’s blessings is for it to be extended to others, hence the need for businesses and individuals to make it a point to occasionally give back to the society and the less privileged.  The Chief Imam said, “When Allah blesses us and gives us great profit margin with our businesses, it is our moral responsible to help those in need and provide same opportunities for them.”

The Chief Imam made these assertions while receiving a donation from Melcom and Melcom Care Foundation at his residence.

Melcom and Melcom Care Foundation donated food items and 1,000 Iftar meals to the National Chief Imam as part of their commitment to social responsibility and community support.  Also, the donation is to aid the National Chief Imam and the Muslim community in their efforts to support the less privileged during the holy month of Ramadan.

The donation was led by key executives from Melcom, including; Madam Sonya Sadhwani (Executive Director), Mr. Ashok Nair (Chief Operating Officer), Mr. Zahed Siddiqui (Chief Information Officer), and Nana Opoku A.kyei (Head of Marketing). 

Dr. Kofi Koduah Sarpong, a strong advocate for structural and policy reforms, has criticised the Ghana Cocoa Board (COCOBOD) for straying from its primary mandate, arguing that the institution should not be involved in road construction.

Speaking on behalf of the Structural and Policy Reform Committee at the National Economic Dialogue, Dr. Sarpong addressed inefficiencies within state institutions, drawing comparisons between COCOBOD and the Electricity Company of Ghana (ECG).

He highlighted concerns over procurement practices and operational inefficiencies affecting both organizations.

Focusing on COCOBOD, he stressed that the institution should concentrate solely on cocoa trading rather than diverting resources into road projects.

“COCOBOD is also not focused on its core business and has inefficient procurement practices just like ECG. To the government, we suggest the following. We should have a holistic and coordinated plan to stop galamsey and improve cocoa and food production as well. This is a major issue for the government to deal with.

“COCOBOD should focus on its core business of buying and selling cocoa. In effect, it has no business in doing roads. We think that it must stop. The Department of Feeder Roads is there, and arrangements can be made for them to look at Cocoa Roads.

“In the past, when some of us were there, we were never constructing roads. We were only helping by giving funds to Feeder Roads to do the work,” he stated.

Dr. Sarpong’s remarks underscore ongoing concerns about inefficiencies in Ghana’s public institutions and the need for clearer policy direction to ensure COCOBOD remains dedicated to its core mandate.

The Ashanti Regional Minister, Dr. Frank Amoakohene, has inaugurated a 17-member ministerial committee tasked with revitalizing the region’s declining film industry, popularly known as Kumawood.

With Kumawood facing a downturn in recent years, the committee has been charged with developing a strategic framework to rejuvenate the industry and create sustainable employment opportunities for industry players.

The committee comprises representatives from various sectors of the film industry, including veteran actors Oheneyere Mercy Asiedu and Bill Asamoah. It will be chaired by Bishop Ofori-Adu.

Speaking at the swearing-in ceremony on Tuesday, March 4, Dr. Amoakohene urged the members to remain united and dedicated to their mandate, emphasizing the importance of teamwork in achieving their objectives.

“We as leaders of the country, all we need from you is to unite and work together, because that unity will encourage the president to push more effort to revive the industry. So unity is very key to us as far as the issue is concerned.”

Dr. Emmanuel Akwetey, Executive Director of the Institute for Democratic Governance (IDEG), has stressed the need for stringent mechanisms to verify the declared assets of public officers to enhance transparency and accountability in governance.

Speaking at the National Economic Dialogue, Dr. Akwetey commended former President John Dramani Mahama for setting a precedent by publicly declaring his assets. However, he emphasized that asset declarations alone are insufficient and called for a verification process to be conducted by the Auditor-General.

“There is also the need for verification of declared assets by the Auditor General. The president has set the standard, he is the first person to announce that he declared his assets, and we all saw it on TV,” he noted.

Dr. Akwetey further urged all public officers to follow Mahama’s example, advocating for greater transparency in asset declarations. However, he questioned whether such declarations would be made publicly accessible for assessment by the citizens they serve.

“But we think that all public officers should do the same. However, it is not clear whether this will be made public. So that the assessment can be done also by the citizens they are representing in the high offices of state,” he added.

Beyond asset verification, Dr. Akwetey called for reforms to separate parliamentary functions from the executive branch to enhance checks and balances. He expressed concerns about the dominance of the governing party in parliament, warning that a lack of political consensus could deepen divisions and hinder constitutional reforms.

“It is essential to decouple parliamentary functions from the executive branch to promote checks and balances in governance. But we have a situation where this time, the governing party has the greatest majority,” he stated.

“With the governing party having almost absolute majority to push the agenda to push reforms, it could do it its way. That could end up intensifying division. Constitutional reforms require consensus even if it will not be entrenched,” he cautioned.

Dr. Akwetey’s remarks underscore the need for institutional reforms to strengthen democracy, ensure transparency, and foster inclusive governance in Ghana.

The government has reaffirmed its commitment to structural reforms and private sector-driven growth, pledging to implement key policy recommendations from the 2025 National Economic Dialogue.

The two-day Dialogue, which centered on six priority areas—including macroeconomic stability—outlined a strategic roadmap for achieving long-term economic resilience and sustainable development.

Speaking at the closing session, Vice President Prof. Naana Jane Opoku-Agyemang underscored the Mahama administration’s dedication to fostering economic growth and implementing measures that deliver tangible relief to businesses and citizens alike.

“The reset agenda is both ambitious and necessary. It requires a concerted effort from all of us—that is, from the government, private sector, civil society, and every Ghanaian citizen.

“I want to assure you that the government of Ghana is fully committed to translating these resolutions into concrete action.

“I have noted all the homework you have given us. Our promise is to collaborate with all sectors and sections of Ghana to ensure that we deliver a homework worthy of an A,” she stated.