National Cathedral’s Soaring Costs: Bright Simons Raises Alarm
Policy analyst Bright Simons has issued a stark warning concerning the National Cathedral project in Ghana, suggesting the final cost could balloon to over $1 billion, despite very little progress being made. The project, intended to be a symbol of national unity, is now facing scrutiny due to escalating expenses and questions about its long-term financial viability. The initial budget has been vastly exceeded, raising concerns about efficient resource allocation in a developing economy.
Financial Projections and Concerns
Simons highlighted the significant cost overruns, based on information from the Cathedral’s auditors. The original projected cost of the Cathedral was $100 million, a figure that has been repeatedly adjusted upward. The most recent estimates, according to Simons, place the total cost at $350 million. He further revealed that approximately $100 million has already been spent on the project. Considering the minimal progress achieved, with construction lagging significantly behind schedule, Simons expressed his concern that the final cost could easily exceed the $1 billion mark. This projection comes with the context that, given the financial investment already made, there have been discussions around the potential need to complete the construction, despite the concerns around the total cost. This is particularly concerning in the current economic climate and in the context of other pressing social needs.
Keywords
Related Keywords: National Cathedral Ghana, Bright Simons, Cathedral construction, Ghana, 1 billion project, construction costs, financial risks, project delays, fundraising, cathedral completion
