Raymond Edem Tamekloe of the Government Communications Office has highlighted the economic rationale behind President John Dramani Mahama’s push to revive the Tema Oil Refinery (TOR), calling it crucial for Ghana’s currency stability and long-term economic recovery.
Speaking on The Verdict with Isaac Addae on Tuesday, December 16, 2025, Mr. Tamekloe emphasized that the President’s focus on TOR is based on economic realities rather than sentiment.
“Do you know the pressure that puts on the Ghanaian cedi? Do you know the deep impact it has on our economy?” he asked, pointing out that Ghana’s annual fuel import bill of about $10.2 billion significantly strains the cedi and the wider economy.
He noted that a fully operational TOR could supply up to 60 percent of the country’s fuel needs, reducing dependence on imports.
“If TOR is fully operational, on a monthly basis alone, Ghana could save about $400 million in fuel import bills,” Tamekloe said, adding that such savings would strengthen the cedi and free foreign exchange for critical sectors like infrastructure, health, and education.
He stressed that this economic reasoning explains why President Mahama has consistently prioritised TOR throughout his leadership, asserting that “reviving the refinery is a strategic national decision rather than a political talking point.”
Source:Starrfm.com.gh/Barbara Yeboah
