Dr. Mahamudu Bawumia has trashed claims by the National Democratic Congress (NDC) that it has done a lot of projects for the country. He has urged Ghanaians not to be deceived by the false claims of the NDC. Bawumia is the running mate to New Patriotic Party (NPP)’s Flagbearer, Nana Addo.
He stressed on this issue in a lecture at a National Financial Literacy and Investment Summit organised by the University Students Association of Ghana (USAG), at the University for Development Studies, Wa Campus. The lecture was on the topic “The Role of Financial Discipline and Investment In National Development”.
In this, Bawumia stated six reasons why Ghanaians should not believe these project claims by the NDC.
The first reason being:
Where is the rest of the money and what could it have done? He asked and equally answered this question saying that the NDC has increased the country’s Debt by 90 billion in 7 years. This he said, is from 9.5 billion at the end of 2009 to some GHC99 billion currently, which is an equivalent of some 37 billion dollars at the time of borrowing.
First, If you sum the cost of all the loan financed projects listed in the green book (even including those with artistic impressions, it is less than $7 billion. Meanwhile, the government has borrowed the equivalent of $37 billion so where is the rest of the money? Indeed, given the resources at its disposal one should expect at least four times the quantum of investment that the NDC claims to have undertaken” he said
Th 2nd Reason:
Investment to GDP has declined and affected Economic Growth : On this he said that infrastructure spending as a proportion of GDP has declined from an average of 11% between 2001 and 2008, when Ghana had no oil, to 5.7% between 2009 and 2015, meaning that the economic growth has equally declined.
The 3rd Reason
Overpricing Of Projects And Resort to Mediocrity
In this, he went ahead to state different projects made under the government of the NDC which he tagged as overpriced, including the recent Smartty’s bus branding deal scandal. Bawumia implied that the government was never transparent in any project it has undertaken, which is also questionable.
The 4th Reason
Bawumia said it was not sincere for the government to claim a first hand in the projects they undertake. He added that since it was the duty of a government of any nation to embark on such infrastructural projects, the government of Ghana should not claim theirs as unprecedented.
“Indeed, it was His Excellency President Mahama who told us that any government touting projects as achievements is conducting an exercise in mediocrity, So what has changed? The real fact is that the NDC has no real achievements to point to outside the undertaking of some projects hence their resort to mediocrity” he said.
The 5th Reason
So-Called Massive Investments Have Not Translated Into Job Creation & Production
In this he said that infrastructural investment is to increase productivity and production in the economy but in the case of the NDC government it has not contributed positively to the economy. To buttress his point he mentioned different sectors of the economy which has been deficient in so any ways.
”If you have indeed undertaken massive and unprecedented infrastructural investment, then why is the economy collapsing? Why is the NHIS in trouble?Why is unemployment on the increase? Why are businesses collapsing? Why is agricultural growth stagnant? Why is manufacturing growth negative? Why is the government having difficulty meeting statutory payments? ..The facts therefore show that the impact of the NDC infrastructure investments have not translated into increased output, job creation and better living conditions for the people of Ghana”, he said.
The 6th Reason
Ghanaians Can Relate To A Worsening In Social Services And Conditions
The final reason he gave for Ghanaians to disregard NDC’s project claims, was that which has to do with the nation’s social amenities. Regarding areas like water electricity, and Education, etc, he said there has not been any improvement in these social services.
”The NDC claims to have put in over a billion dollars in the area of water infrastructure. Yet, today many places across the country are seeing the worst shortages of water in decades” he added