Use supernormal profit from Russia-Ukraine war to subsidize fuel – Minority to Gov’t

The minority in parliament has asked the government to immediately deploy measures to cushion consumers of petroleum products. According to the NDC MPs, the government has made supernormal profits from the sale of crude oil as a result of the Russia-Ukraine war. Addressing the media in parliament, minority spokesperson on mines and energy John Jinapor disclosed that per figures from PIAC even though government projected to receive 6 billion in petroleum revenues for 2022, government has made over 8 billion in 3 months as a result of the Russia-Ukraine war. Jinapor, therefore, wants government to use part of the revenues to subsidize fuel prices to bring relief to the suffocating Ghanaians. “It’s sad to note that fuel price today is going through the roofs. At the beginning of the year, fuel that was selling at GHc6.5 per litre has now increased by more than 300%. Indeed today fuel is more costly than the minimum wage. “I wish to place on record that this government is making so much money from the Russia-Ukraine war. So in three months government has received more than it projected the whole year. So government is making supernormal profit”

The minority in parliament has asked the government to immediately deploy measures to cushion consumers of petroleum products. According to the NDC MPs, the government has made supernormal profits from the sale of crude oil as a result of the Russia-Ukraine war. Addressing the media in parliament, minority spokesperson on mines and energy John Jinapor disclosed that per figures from PIAC even though government projected to receive 6 billion in petroleum revenues for 2022, government has made over 8 billion in 3 months as a result of the Russia-Ukraine war. Jinapor, therefore, wants government to use part of the revenues to subsidize fuel prices to bring relief to the suffocating Ghanaians. “It’s sad to note that fuel price today is going through the roofs. At the beginning of the year, fuel that was selling at GHc6.5 per litre has now increased by more than 300%. Indeed today fuel is more costly than the minimum wage. “I wish to place on record that this government is making so much money from the Russia-Ukraine war. So in three months government has received more than it projected the whole year. So government is making supernormal profit”