President Nana Akufo-Addo is concerned about the impact of Russia's invasion of Ukraine on Ghanaians' safety and evacuation, as well as energy costs.
He has advised students and other Ghanaians in Ukraine to seek support at government-run shelters in this respect. This was done, according to the President, to secure them temporary safety while the administration "engages the authorities, our relevant diplomatic posts, and our honorary consul on additional actions."
Ghana's mission in that nation, other government facilities in that country, diplomatic buildings of countries with whom Ghana has a bilateral arrangement to use as a safe haven, and property belonging to ECOWAS and the African Union are among the government places of safety.
Oil prices are rising.
While President Akufo-Addo voiced worry about the possible loss of life and the safety of Ghanaians, he was equally concerned by the conflict's impact on global crude oil prices and the country's economy.
President Akufo-Addo stated in a statement delivered on his behalf by the Minister of Information, Mr. Kojo Oppong Nkrumah, that the globe was struggling with growing energy costs and supply-demand mismatches in numerous areas.
"This implies that gasoline costs in the nation are dependent on the ongoing violence and are likely to have a severe impact on Ghanaians, who are already seeing rises in fuel prices for unknown causes," he added.
"Not only will gas costs rise, but an increase in oil and natural gas prices will drive up the cost of electricity," the President said.
Ghanaians' safety is paramount.
As of Tuesday, President Akufo-Addo said that Western and European countries were beginning to feel the heat of the fight, as Brent crude oil prices breached the $100 per barrel level, hitting a seven-year high after averaging $87 in January.
Despite the fact that most of those nations were exploring for other crude suppliers, he said Russia's influence in the oil business must not be overlooked.
Concerns of a worldwide economic backlash, according to the President, are unsettling economies, causing a lot of fear.
"Although the Russian-Ukrainian crisis is not taking place on African land," President Akufo-Addo said, "the interconnectedness of the global economy and financial markets might spark repercussions in Ghana."
"Fuel costs at various pumps around the nation are already creeping towards the GH8 level, resulting in a 15% rise in transit rates, commencing February 26, 2022," he continued.