A professor of Finance and economics at the University of Ghana Business School (UGBS), Prof Godfred Bokpin, has slammed the government for the misuse of public funds on questionable projects, highlighting the government's 1 Village 1 Dam initiative.

According to him, the inefficiency in the use of public funds is a major problem for the country.

He said many projects like the newly commissioned Flower Pot Interchange project often do not offer real value for money as the costs are often inflated.

He said that while the government has spent large sums of money constructing the interchange and dams in some parts of the country—many of which have now become white elephants—many roads across the nation remain in poor condition.

Prof Bokpin stated, “There are instances where we have spent taxpayers’ money to construct dams, supposedly, and you may find that potholes on our roads actually hold more water than the dams we’ve constructed.”

He emphasised, “If the Ghanaian government constructs an interchange and you look at the cost of constructing that interchange, comparing it maybe to world averages, you will see inefficiency. That’s where the problems arise for us, and that is what we have to address.”

He was speaking on Joy FM’s Super Morning Show on Wednesday, November 20, while discussing the rising cost of living in the country in the lead-up to the December general election.

The economist explained that resources are scarce, hence the need to use the available resources wisely.

Over the years, many Ghanaians, especially members of opposition political parties, have criticised the construction of dams under the One Village, One Dam programme, which ultimately yielded no results for its intended purpose.

Prof Bokpin, therefore, called for "credible leadership" to address the issues of inefficient use of resources. He stressed the need for an improved investment climate for the smooth development of the country.

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The Flower Pot Interchange project was awarded in 2016 for GH¢69.5 million by the previous NDC government. However, the project cost was revised to GH¢147 million in 2017 and has now neared GH¢1 billion under the Nana-Addo government.

Flower Pot Interchange: Cost increased due to expanded scope of work – NRA responds to Minority

The Director-General of the National Roads Authority (NRA), James Amoo-Gottfried, says the increase in the cost of constructing the interchange is due to an expanded scope of work.

“The initial scope was entirely different. It was to involve two overpasses: one over the Flower Pot roundabout and another across the motorway (Accra-Tema Motorway), totalling about 120 metres of bridge length. What we have now is about 1,022 metres of bridge length,” he explained.

He added, “So, the scope as originally planned and what we have now is entirely different.”

Mr Amu’s clarification comes in response to a call by the Minority Members of Parliament (MPs) for an explanation regarding the increase in construction cost.