The Hon. Member of Parliament, MP for Bolgatanga Central in the Upper East Region, Isaac Adongo has revealed that the Agyapa Royalties’ deal is a huge fraud Nana Addo Dankwa Akuffo-Addo and his Akyem Mafia group brought to finish Ghana.
In his write up, the MP indicated the Nana Addo led NPP government mortgaged Getfund proceeds in excess of Ghc25 billion for the next 10 years to borrow $1.5 billion and yet the government could not expand educational infrastructure and build new schools to end double track system across the country; Akuffo-Addo government mortgaged bauxite burried in the ground to Sinohydro to borrow $2 billion but has nothing to show after almost 2 years; you mortgaged ESLA proceeds for the next 10 years worth in excess of Ghc30 billion in 10 years to raise energy sector bonds of about $1.3 billion and yet energy sector debts remain unpaid.
The Bolga Central MP further hinted the NPP government led by Nana Addo and has since accumulated over $ 2 billion additional energy sector debt which power producers threatening to shut their power plants but he was not oak.
In addition to borrowing $9 billion in 3 years in Eurobonds alone and illegally borrowing $500m term bonds in February, 2020 on the capital market without Parliamentary approval in violation of Article 181 of the Constitution, President Akuffo-Addo in all has nothing to show; to this the MP asked, “what magic can you perform with $500m Agyapa theft money?”.
“How can a 76 year old President Akufo Addo mortgage revenues of about Ghc75 billion of the State for his maladministration to steal without caring about how his children and grandchildren will manage the economy into the future”, Mr. Adongo fumes.
He further argued that, “no wicked man has ever ruled this country and destroyed Ghana’s fiscal and debt framework the way Nana Addo and the empty lying Dr Bawumia have done”.
According to him, it is estimated by industry players that only 11 major mining companies in Ghana would give Ghana an average of $250million a year, $3 billion in 10 years and $4.250 billion in 15 years in royalties payments being planned to hand over to Agyapa Royalties for just $500m.
These estimates excluded new mining developments that will come on-stream in the next 15 years such as the highly profitable mandine mining development in the Upper East by Cardinal Resources. How did they value $4.250 billion in 15 years to arrive at $500m as 49% of that value, he disclosed. “You can’t put Lions in charge of sheep and expect to come back and meet the sheep alive”, Mr. Adongo said proverbially.
Bolga Central MP warned that, “they (NPP government) will now sell us to borrow to satisfy their insatiable corrupt habits if they are allowed 1 more year in office.
