Reject Agyapa Royalties deal – Prof Alabi urges Ghanaian youth

BY: Getrude Ankah Nyavi
Professor Joshua Alabi
Professor Joshua Alabi

The 2020 Campaign Manager for the National Democratic Congress (NDC), Professor Joshua Alabi has charged the youth to speak up on the Agyapa Royalties deal.

According to him, the deal has dire implications on the country’s future hence the youth must reject it, “If you keep quiet and it gets to your time, there will no money for you to run this country”, he said.

Speaking to Accra based radio station, Citi FM, Mr Alabi stressed that NDC’s decision to reject the deal is in the interest of the youth of the country.

Prior to approving the Agyapa Royalties transaction, Parliament in 2018 passed the Minerals Income Investment Fund (MIIF) Act 2018 which establishes the Fund to manage the equity interests of Ghana in mining companies and receive royalties on behalf of the government.

The sole purpose of the fund is to manage and invest these royalties and revenue from equities for higher returns for the benefit of the country and government through the MIIF.

In exchange for that, the Agyapa Royalties Limited aims to raise between US$500 million and US$750 million for the Government on the Ghana and London Stock exchange’s intended for development projects.

Some civil society groups have, however, asked the government to suspend the establishment of the SPV until all documents relating to its establishment and its owners have been disclosed.

They said the opaque manner in which the policy was being implemented, including the relatively weak transparency and public oversight arrangements, and the haste with which the government was running to the market, in spite of the concerns raised by a broad spectrum of the people, and did not engender public trust and consensus building on the matter.

“This approach rather raises moral and governance questions. The assumption that once everything goes through Parliament it is above board and represents the interest of all Ghanaians is deceptive and turns democracy on its head. It makes the elected the only relevant stakeholders in policy making”, they stated.
Stressing on the NDC’s position on the deal, Mr. Alabi said it stinks and insisted his party will reject the deal agreement when voted into power.

“When we win we will not respect that one. And we will not respect that one to protect people like you (youth) so that when it gets to your turn to run the country, it will be easier for you,” he stressed.

 “You should be interested in that particular deal. That deal stinks and that is why apart from the government almost everybody is talking about it. But because they have power, they are trying to push it through you…. My President, His Excellency John Dramani Mahama says when he wins he will not respect that deal because we disagree with it. You push it through Parliament because you have the majority fine, but apart from the minority in parliament, almost everyone is talking about it. We are still pushing it,” he said.

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