Mr Emmanuel Armah-Kofi Buah, the Minister-Designate for Lands and Natural Resources, Emmanuel Monday opposed the sale of public lands at undervalued prices, emphasising that future transactions must be conducted at prevailing market rates to protect the interests of the Ghanaian people.
He also criticised alleged existing practices that allowed public lands to be sold at significantly lower rates, describing it as detrimental to national development.
Mr Buah made the remarks during his vetting by Parliament’s Appointments Committee in Parliament.
According to Mr Buah, the current guidelines used by the Lands Commission “value public lands at only 25 per cent of their market value, with the remainder paid through ground rent,” he told the Committee.
As a result, he argued that this practice effectively undervalued state-owned assets and deprived the nation of much-needed revenue.
He said: “Mr Chairman, as we speak, the guidelines for the sale of public lands according to the Lands Commission is valued at 25 per cent and the 25 percent of the value is what is sold, and the rest is paid through grand rent. That will not happen anymore, and first of all, it should not be sold and if there is a need to sell, it should be done at the current market value so that Ghanaians are not shortchanged.”
The alleged sale of public lands to Politically Exposed Persons (PEPs) has been a contentious issue in Ghana, with concerns raised about transparency, fairness, and accountability.
The Minister-Designate’s commitment to ending the undervaluation of public lands is seen as a significant step towards promoting transparency and accountability in the management of Ghana’s natural resources.
GNA
