President Akufo-Addo has revealed that government is rehabilitating the Tema Oil Refinery.

According to him, this is part of efforts to stabilise petroleum prices in the country.

The President made this revelation, while addressing workers on the occasion of this year's Labour Day celebration.

"Intense efforts are being made to rehabilitate the Tema Oil Refinery, to enable it contribute to stabilizing petroleum prices, which should see the light of day very soon," he said.

This year’s celebration was held under the theme, “Protecting Jobs and Incomes in the era of Covid-19 and Beyond.”

President Akufo-Addo also stressed the need for private companies to venture into the arena and assist with the establishment of refineries across the country.

"We are also encouraging private companies to establish refineries in the country, one of which is eighty percent (80%) complete and its expected to be commissioned before the end of the year."

The plan to enhance the dividends of the Tema Oil Refinery, is part of a raft of measures by government to lessen the current economic hardship in the country.

In this regard, the President highlighted a plethora of other measures, which he believes will make life more comfortable for the millions of workers in the country.

"I am also happy to announce that, following the National Labour Conference at Kwahu, the Ministry of Employment and Labour Relations and its tripartite partners have set up, as of Tuesday, 26th April, a technical committee to review the Single Spine Pay Policy (SSPP), and advise Government accordingly.

The goal is to find out whether the Single Spine Pay Policy is living up to expectation, and, if not, find a way forward.

I sincerely hope that the outcome of that review, which is expected to be ready in July, will help us put an end to most of the unrest we see on the labour front involving public sector workers", Akufo-Addo said.

In his concluding remarks, the President noted that, "In all of this, we must not lose sight of our overarching vision, which is to build a Ghana Beyond Aid.

I remain confident that we can free ourselves from a mindset of dependence, aid, charity and handouts, and build a self-reliant economy which will mobilise the immense resources of Ghana, material and human, with women and youth in the forefront, to resolve Ghana’s problems, and deliver a decent, dignified standard of living to the working people of our country," he uged.