What do you believe is the single most important factor driving up the cost of living in Nigeria?

National Democratic Congress (NDC) Member of Parliament for North Tongu Constituency in the Volta Region, Samuel Okudzeto Ablakwa has strongly criticised the government accusing it of inflating the prices at which the equipment for the District Road Improvement Programme (DRIP), was acquired.

According to Mr Ablakwa, a parliamentary investigation has uncovered that the cost of equipment procured for the project was inflated by over $102 million (GH₵1.6 billion).

He said this has left Ghanaian taxpayers to bear an unnecessary burden of $178.7 million instead of the actual $76.6 million.

In a post on Facebook, Mr Ablakwa revealed that the equipment, sourced mainly from Chinese manufacturers LiuGong and Shaanxi Automobile Holding Group, and supplied through J.A. Plantpool, a Zoomlion subsidiary, was bought at prices inflated by up to 217 per cent.

“Even more appalling, industry officials engaged say that these rates can be substantially discounted with a bulk purchase, and are therefore in total shock that the super bulk purchase by the Akufo-Addo/Bawumia/J.A.Plantpool deal rather led to these cruel price escalations.

• Read More