APA – Accra (Ghana)
The report that Parliament on Thursday approved the 2024 Budget Statement and Economic Policy of the government for the year ending December 31, 2024 dominates the headlines of Nigerian newspapers on Friday.
The Graphic reports that Parliament on Thursday approved the 2024 Budget Statement and Economic Policy of the government for the year ending December 31, 2024.
This will allow the government to spend a total of GH¢ 259,052,474,750 from the Consolidated Fund and other public funds in the next financial year.
The approval followed a 138 to 136 headcount which saw the “Ayes” by the Majority have the day.
Announcing the outcome of the headcount, the Speaker of Parliament, Alban Sumana Kingsford Bagbin, said: “At the end of the headcount, the “Ayes” are 138 and the “Nay” 136. Absent: One.
“Honourable members, the ‘Ayes” have it and this House accordingly approves the budget statement and economic policy of the government for the year ending December 31, 2024.”
The Majority Caucus was able to have a breakthrough as their members turned up in their numbers for a showdown with their colleagues on the other side of the House.
Although the Minority Caucus also had its members present in their numbers, the absence of the Member of Parliament for Assin North, James Gyakye Quayson, did not help their bid to reject the budget after polling 136 “Nays”.
The Minority had attempted to resist the approval of the budget on grounds that it contained new tax handles that would not serve the interest of the ordinary Ghanaian and businesses.
The newspaper says that the Minister of Lands and Natural Resources, Samuel Abu Jinapor has insisted that Ghana will not allow the export of lithium in its raw state.
The minister’s explanation follows the mining lease granted to Barari DV Ltd, a subsidiary of Atlantic Lithium, for the exploitation of lithium at the Ewoyaa concessions in the Central Region.
Already, the ministry and the Minerals Commission have said the deal is one of the best terms for Ghana and will be strictly enforced.
For this reason, Mr Jinapor has said, government had infused in the lithium agreement between it and Barari DV Ghana Limited a clause that ensure the retention of a significant part of the mining value chain locally.
Addressing a press briefing on Ghana’s First Lithium Contract, Terms, Benefits and the Way Forward on Thursday, December 7, 2023, Mr Abu Jinapor insisted that the Lithium Mining Lease includes provisions for the establishment of a refinery and the provision of the lithium by-products to local industries, hence the decision to process lithium locallly was in the best interest of the state.
The Minister enlisted significant advantages expected from the implementation of the Lithium deal disclosing that the execution of the contract will give Ghana 10% in the form of royalties which will be one of the highest in the country’s mineral exploration history.
He added that, government has also secured 19 percent state participation in Barari DV Limited, which is projected to scale up to 30 percent by the end of the contract.
“We have already secured 19 percent state participation in this mining company with the requirement to scale it up to a minimum of Ghanaian participation through listing on the Ghana Stock Exchange for shares to be made available to Ghanaians and Ghanaian entities”.
The Ghanaian Times reports that 90,000 graduate youth are expected to be trained in agriculture by the National Service Scheme (NSS) through an$ 11.8 million partnership project with Agri-Impact Group.
The four-year strategic partnership project, funded by the Master Card Foundation aims to harness agricultural productivity and prosperity for the youth, aligning with the national vision of empowering the younger generation and fostering entrepreneurship.
The Chief Executive Officer (CEO) of Agri-Impact Group, Daniel Fahene Aquaye, who made the revelation at the signing of the Memorandum of Understanding (MoU) between the two institutions on Wednesday in Accra added that the project was“ambitious and transformative.”
He said the 90,000 graduates who would go through the training programme under the project, would as well train others under their umbrella.
“The project intends to create jobs for 316, 000 youths in Ghana in four agricultural value chains namelyrice, soya, tomato and poultry,” the CEO explained.
This substantial undertaking, he said was poised not just to create employment but to also significantly boost agricultural production, reduce imports, and stimulate job creation among the youths across the country.
“We have a target of increasing food production by 189,000 tonnes of the value chain and 12,000 tonnes of poultry, and we anticipate to generate over $200,000 dollars per annum in the form of imports substitution,” Mr Aquaye added.
The newspaper says that Ghana’s industrialisation agenda has received a boost as Africa’s largest ‘Solar Rooftop Project’ situated at the Free Zones Enclave at Tema is expected to come on stream in the second quarter of next year.
Owned by Helios Solar Company (Helios) and part of the LMI Holdings Group, the rooftop solar project will supply 16.82 megawatt of energy to Helios and its partners.
The fully funded project by the International Finance Corporation (IFC) forms part of an all-encompassing $30 million clean power and water deal with LMI Holdings to support job creation and greener, more sustainable, and more competitive industrial development in the country.
The Chief Executive Officer of LMI Group Holdings, Kojo Aduhene, disclosed this when the Minister of Energy, Dr Matthew Opoku Prempeh, and his team paid a working visit to the site of the project.
He said the achievement by Helios Solar represented a significant milestone for the company and underscored its commitment to facilitating Ghana’s industrialisation ambitions.
“As an indigenous Ghanaian company, we understand the wealth of natural resources available to us and are keen to utilise technologies to help us realise our industrialisation ambitions. This solar system is good, not just for the environment, but also for our economy,” he said.
GIK/APA
Ghana: Press zooms in on approval of 2024 Budget by Parliament, others
