President Mahama warns of oil price impact from Israel-Iran conflict 

President John Dramani Mahama has expressed concern that the escalating missile exchanges between Israel and Iran are contributing to rising global crude oil prices, posing a potential threat to Ghana’s fuel costs and overall economic stability.

In response, the President has directed the Ministers of Finance and Energy to closely monitor the unfolding conflict, emphasising the need to assess its potential impact on Ghana’s economy.

Speaking during his Thank-You Tour of the Savannah Region on Saturday, 14 June, President Mahama stressed the importance of proactive measures to safeguard the country’s recent economic gains from external shocks.

“Today, I wish to reaffirm that our commitment to the people of the Savannah Region will never shake. Despite the progress we’ve made in stabilising the economy, Ghana is not immune to the shocks of global events,” he said.

“I have instructed the Ministers of Finance and Energy to keep a close eye on the developments and model the possible impact on our petroleum prices. They must prepare appropriate measures to safeguard the gains we’ve made,” he added.

Meanwhile, the President also reaffirmed his administration’s commitment to expanding access to higher education with the announcement of a new public university in the Savannah Region.

He emphasised the university’s strategic role in supporting the government’s Feed Ghana programme, which seeks to transform agriculture into a major driver of economic growth and job creation.

“I’m proud to announce that, in line with the NDC’s 2024 manifesto to establish a public university in each of the six new regions, a public university will be built right here in the Savannah Region,” he stated.

“This university will not only be symbolic; it will be functional, targeted, and grounded in our national agenda for skills-driven development,” Mahama said.

“This university will train the human resources to drive our Feed Ghana programme and help deliver an agriculture-for-economic-transformation agenda,” he added.