By Let’s get straight to the point: I’m tired of hearing excuses. For years, President Nana Akufo-Addo has pointed fingers at the Russia-Ukraine war to explain Ghana’s spiraling economic crisis—skyrocketing fuel prices, food inflation, and taxes so heavy they’re crushing the average Ghanaian. But as I sit here in 2025, looking at the state of our nation, I can’t help but ask: Was he telling the truth, or was the war just a convenient shield to cover up years of economic mismanagement? Let’s dig into this and see what’s really going on.
When Russia invaded Ukraine in February 2022, the world felt the shockwaves. Global oil prices soared because Russia is a major producer—something like the third-largest in the world back in 2020, if I recall correctly. Ukraine, meanwhile, was a key supplier of wheat and grains, feeding millions across Africa, including Ghana. So, yes, the war hit us hard.
Fuel costs shot up, making transport and goods more expensive. Bread prices jumped because we couldn’t get enough wheat imports. I remember walking into a store in Accra in 2022 and seeing the price of a loaf double overnight. It was painful, and I don’t doubt that the war played a role in that chaos
But here’s where I start to question Nana Addo’s narrative. The government has repeatedly claimed that our economic struggles—like inflation that’s reportedly hit triple digits and a cedi that’s weaker than ever—are largely due to this war. They’ve used it as a reason to slap us with burdensome taxes, from the E-Levy to new VAT hikes, saying they need the revenue to stabilize the economy. I get it, wars cause disruptions. But Ghana’s economic troubles didn’t start in 2022. We were already grappling with debt, mismanagement, and wasteful spending long before Putin sent troops into Kyiv.
Think about it. Before the war, Nana Addo’s administration was already under fire for borrowing heavily—piling up debt to fund projects that many of us still don’t see the benefits of. The cedi was depreciating as far back as 2019, and youth unemployment was a ticking time bomb. I’ve spoken to friends who’ve been jobless for years, and they’ll tell you the same thing: the government’s priorities have been off for a while. So when the war broke out, it felt like a perfect excuse for the administration to say, “See? It’s not our fault!” But I’m not buying it—not entirely.
Let’s break it down. Yes, the war caused global oil and food prices to spike, and Ghana, as an import-dependent country, felt the heat. But other nations faced the same challenges and didn’t spiral as badly as we did. I’ve read about countries in East Africa that managed to cushion their citizens by ramping up local production of food staples or negotiating better trade deals.
In Ghana, though, our agricultural sector is still struggling—something the government could have invested in years ago to reduce our reliance on imports. Instead, we’re hit with more taxes, which just make life harder for small businesses and everyday people like me. I paid more in taxes last year than I ever have, and yet I’m seeing less in return—no better roads, no affordable healthcare, nothing.
And then there’s the issue of financial mismanagement. I’ve heard whispers of government officials living lavishly while the rest of us tighten our belts. Billions of cedis have been spent on projects with little transparency—remember the controversy over the cathedral project? Meanwhile, our debt keeps growing, and we’re begging for IMF bailouts.
If the war was the only problem, why hasn’t the government shown us a clear plan to address its effects? Why are we still taxing Ghanaians into poverty instead of tackling corruption or cutting wasteful spending? It makes me wonder if Nana Addo’s claims about the war were a half-truth at best, a distraction at worst.
Here’s what I think: the Russia-Ukraine war definitely hurt Ghana’s economy, but it’s not the whole story. It exposed weaknesses that were already there—weaknesses that this administration has failed to address. Instead of taking responsibility, they’ve used the war as a crutch, piling on taxes that choke us while mismanagement continues unchecked.
I’m not an economist, but I know what I see on the streets of Accra: people struggling to afford basics, businesses closing, and a government that seems more interested in excuses than solutions.
So, was Nana Addo lying? I wouldn’t go that far—but I do think he’s been economical with the truth. The war gave him a convenient narrative to deflect blame, but the roots of our economic crisis lie closer to home. As Ghanaians, we deserve better. We deserve leaders who will own up to their mistakes, not hide behind global conflicts. And we definitely deserve a break from these crushing taxes. It’s time for the government to stop pointing fingers and start fixing the mess—war or no war. What do you think, fellow Ghanaians? Are you as frustrated as I am, or do you believe the war is truly to blame? Let’s talk about
