President Akufo-Addo is charged by the minority in parliament with illegally requesting that the government’s oil firm, the Ghana National Petroleum Corporation (GNPC), borrow money to fund its operations without getting consent from parliament.
The Mines and Energy Committee was asked for permission by GNPC to borrow more than $600 million just before Parliament went on break.
However, the committee requested that the firm submit the loan’s terms and conditions for review by the House in accordance with Article 181 of the Constitution.
According to the Minority, the President has instructed GNPC to proceed with a loan violating Ghanaian law.
John Jinapor, the minority side spokesperson on mines and energy, said, “To our utmost shock, I have come across documents – the Minority side, in particular, has become aware that the presidency is using coercive force to compel the GNPC to proceed and execute this loan agreement without parliamentary approval.”
He stated, “This is unconstitutional, this is illegal, and this is an egregious disregard for the directive and resolution of Parliament.”
Additionally, Mr. Jinapor informs the media that the loan terms their side has intercepted are entirely tilted against Ghana because the nation will forfeit more than five years’ worth of oil earnings from the TEN oil field.
He said, “If we allow the government to pillage our oil resources, it will impact future generations.”
“In fact, for the next five and a half years, all of the oil in the TEN field has been incumbent, including royalties, surface rentals, and our current participating interest. He said we will offer Litasco a minimum of 3.8 million barrels of our crude oil annually.
