The campaign team for the presidential candidate of the ruling New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has announced a detailed plan on how he will reduce the cost of living, should he win the December 7, 2024 polls.
Addressing a news conference in Accra yesterday, the Bawumia for President Campaign Team introduced a multifaceted strategy that addresses key issues, including food security, transportation, housing and energy.
This initiative, according to the campaign team, is part of the NPP’s 2024 manifesto, reflecting Dr. Bawumia’s commitment to alleviating financial pressures on citizens.
FOOD PRICES
The campaign team, giving insight into the NPP 2024 manifesto, indicated that Dr. Bawumia’s plan focuses on stabilising food prices by supporting local agriculture through financing and guarantees from the Development Bank Ghana (DBG) and the Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL).
The team said that by increasing the production of staple foods and investing in preservation methods for perishable items, the strategy aims to reduce food waste and keep prices stable.
This approach is said to have been designed to ease inflationary pressures on food, a critical concern for many Ghanaian households.
TRANSPORTATION COSTS
The Bawumia for President Campaign Team noted that on public transportation, Dr. Bawumia’s plan includes measures to lower the costs.
This, the team said, promoting electric vehicles (EVs) for public transport is a key component, offering a sustainable and cost-effective solution.
The expansion of the Gold-For-Oil Programme (G4O) is also part of the strategy, intended to stabilise fuel prices through strategic reserves and import policies.
Additionally, the introduction of a flat rate for spare parts and extending the validity of driver’s licenses to 10 years are expected to reduce maintenance costs and administrative burdens.
HOUSING OPTIONS
According to the campaign team, housing affordability is another major focus of Dr. Bawumia’s plan.
He has proposed a range of housing solutions, including social housing initiatives like shelters for vulnerable populations and an expanded rental assistance scheme for low-income workers. The plan, the team said, also includes incentives for private real estate projects and enhanced services from state agencies such as the State Housing Company (SHC) and the National Homeownership Fund (NHF).
The team explained that these measures aim to make homeownership and affordable rental options more accessible to all Ghanaians.
ENERGY EFFICIENCY
To address energy costs, Dr. Bawumia’s plan includes adding 2,000 megawatts of solar power to the national grid. This move, his campaign team has explained, is expected to lower energy costs while promoting sustainability.
The team said that the introduction of net metering, which allows solar system users to sell excess power back to the grid for free electricity, is another innovative solution to high energy bills and power shortages.
ACCESS TO SERVICES
Dr. Bawumia’s plan also seeks to simplify access to public and private services by utilizing the GhanaCard for all basic data collection.
The campaign team has explained that the streamlined approach aims to reduce redundancies, making it easier and more cost-effective for citizens to access essential services.
AMBITIOUS VISION
Dr. Bawumia’s strategy leverages existing institutions and proven mechanisms, enhancing its feasibility.
By building on established frameworks like DBG and GIRSAL for food security and expanding the G4O Programme for fuel stabilisation, the team noted that the plan offers a practical path to reducing living costs.
