The Institute of Economic Affairs (IEA) has hinted of its intentions to petition Parliament against the ratification of the lithium deal.

This was disclosed at a forum to present the findings of an analysis conducted by the think-tank to the clergy.

Speaking to Joy Business, former Chief Justice, Justice Sophia Akuffo admonished Parliament not to ratify the Lithium agreement.

She explained that the agreement in its current form will short-changed the country, depriving it of the full benefits lithium especially now that the globe is gearing towards green energy.

“It is not acceptable and should not be ratified by Parliament. In other words, Parliament should not accept it on behalf of the people of Ghana because it is not in our interest.”

“All that IEA is saying is that Parliament should not, must not, ought not to ratify this agreement,” she added.

She further called for a paradigm shift in the formulation of policies in the extractive sector, adding, there should be a comprehensive policy which will ensure Ghana benefits the most from its natural resources.

“It’s about all our resources, so that any agreement which will be signed and ratified henceforth must at least have a particular framework which is a far departure from the colonial structure.”

The clergy present, which was made up of the Christian Council of Ghana, Heads of Christian Churches and Associations as well as the Muslim community supported IEA’s call for a petition to be presented to Parliament and other relevant agencies.

The conversation about agreements concerning Ghana’s extractive sector has become imperative since agreements over the years only present the country with meager royalties. 

Also, lithium which is the raw material used in the manufacturing of lithium metal batteries, and lithium-ion batteries which are used in electric vehicles will be crucial in the achievement of a net-zero economy. Therefore, controlling a chunk of the extraction of lithium will be economically beneficial to Ghana.