As economic hardship deepens across the country, a leading figure within the opposition New Patriotic Party (NPP) has issued a clarion call for party
As economic hardship deepens across the country, a leading figure within the opposition New Patriotic Party (NPP) has issued a clarion call for party unity and preparation for a comeback, while delivering a blistering critique of the governing National Democratic Congress (NDC) and its handling of Ghana’s economy since returning to power in January 2025.
In a detailed statement released on Wednesday, July 16, Dr. Mohammed Amin Adam, Ranking Member of Parliament’s Finance Committee and former Finance Minister highlighted what he described as a collapse in economic policy credibility under President John Dramani Mahama’s administration.
He also reaffirmed the NPP’s resolve to re-organize and present a viable alternative ahead of the 2028 general elections.
According to Dr. Amin Adam, the goodwill that greeted the NDC’s electoral victory just seven months ago is now evaporating rapidly due to worsening economic conditions.
He pointed to a string of unpopular tax hikes and poor fiscal management as evidence of a government out of touch with the daily struggles of Ghanaians.
Foremost among the grievances is the recent introduction of what has become known as the “Dumsor Levy”, which officially took effect on July 16.
The new fuel-based tax has sparked widespread criticism from transport unions, civil society groups, and the business community, who argue that it will further increase transport fares and compound the already rising cost of living.
“This government has refused to listen to the concerns of Ghanaians,” Dr. Amin Adam said. “They have gone ahead with the imposition of a levy that will worsen living conditions at a time when citizens are already struggling.”
The statement also accused the government of presiding over increasing job losses, particularly among young people, despite campaign promises to create employment opportunities.
“If you have recently lost your job, please know that the NDC has abandoned you,” Dr. Adam added, pledging that a future NPP government would prioritize job restoration and youth dignity.
In terms of macroeconomic management, Dr. Adam argued that the Mahama government has failed to stabilize prices despite a temporary strengthening of the cedi.
He noted that electricity tariffs alone have risen by over 17% since January, while inflation remains stubborn due to a mere 10% increase in wages.
“Ghanaians can no longer rely on their disposable income,” he warned.
He further challenged the government’s narrative about the economy it inherited from the NPP.
Citing the IMF’s latest Staff Report, Dr. Adam revealed that the Bank of Ghana had intervened in the foreign exchange market with $1.4 billion in Q1 2025—using reserves accumulated under the previous NPP administration—despite official denials.
He also cast doubt on the government’s accounting of arrears, referencing the IMF’s audit findings which showed many of the reported liabilities lacked valid documentation. “This proves our assertion that the reported fiscal deficit for 2024 was exaggerated for political purposes,” he claimed.
On domestic debt markets, the statement was even more damning. Dr. Adam noted that out of 28 treasury bill auctions held this year, 13 had failed to meet their targets, citing policy inconsistency and rate manipulation by the government.
“These auction failures are a red flag for investor confidence,” he added, warning that any hasty reopening of the bond market—particularly after the recent domestic debt exchange—must be handled with caution to avoid putting undue pressure on institutional investors like pension funds.
The NPP also raised concerns over funding shortfalls in key government programs.
Dr. Adam accused the government of redirecting over GHS6 billion from critical sectors to fill auction gaps and criticized delays in contractor payments despite the Ghana Revenue Authority exceeding its mid-year revenue target by GHS4 billion.
He also described the much-hyped 24-Hour Economy initiative as nothing more than political theatre, noting the lack of budgetary allocation and a clear financing plan.
He called on the NPP to regroup swiftly, citing the upcoming National Delegates Conference and Presidential Primaries as a vital moment to reenergize the party’s base.
“Three years may feel distant, but politically, 2028 is right around the corner,” he said. “The campaign begins now.”
He encouraged party faithful to rally behind the leadership, stating that unity would be the foundation for a political resurgence.
“We’ve overcome greater odds before, and we will do so again,” he concluded.
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