A member of the New Patriotic Party (NPP), Kwadwo Nsafoah Poku, has warned that escalating conflict in the Middle East could have serious economic consequences for Ghana, particularly if it disrupts global oil supply chains.
Speaking on GHOne TV with Lily Mohammed on Tuesday, March 3, 2026, Mr. Poku said rising tensions involving Iran, Israel and the United States are already creating uncertainty on the global energy market, with crude oil prices responding sharply to developments.
He cautioned that a prolonged conflict—especially one affecting the Strait of Hormuz, a key global oil transit route—could trigger further price hikes and intensify economic strain on oil-importing countries like Ghana.
“If it prolongs, the uncertainty will increase. And that will affect countries like ours,” he stated.
According to him, higher crude oil prices would likely impact fuel costs, inflation and overall macroeconomic stability, potentially reversing gains made in stabilising the economy.
Mr. Poku stressed the need for Ghana to remain cautious in its fiscal planning and build resilience against external shocks, noting that global events beyond the country’s control can quickly alter economic projections.
Source: Starrfm.com.gh
