–President Ali says gov’t committed to making more direct cash transfers to citizens

PRESIDENT, Dr. Irfaan Ali has reaffirmed that the $100,000 cash grant is not a one-time initiative, but the beginning of a sustained programme of direct economic transfers aimed at empowering Guyanese citizens.
The announcement, made during his New Year’s Address on January 1, 2025, is in keeping with the People’s Progressive Party/Civic (PPP/C)’s commitment to ensure that the nation’s growing oil wealth translates into tangible benefits for its people.
“This cash grant is not intended to be a one-time payment. We are committed to ensuring that our people benefit from the proceeds derived from the exploitation of their natural resource wealth.
“We are committed to making future direct cash transfers to our citizens,” President Ali said during his address to the nation.

Supported by the Ministry of Finance and the Bank of Guyana, the $100,000 grant forms part of a broader economic empowerment strategy targeting households, particularly in remote and hinterland communities.
Initially announced on October 16, 2024, the initiative ensures that every Guyanese aged 18 and older is eligible, injecting over $60 billion into the economy.

These funds are expected to enhance household income, stimulate local businesses, and foster investments in education and entrepreneurship, particularly for vulnerable populations.
The initiative supplements other measures aimed at improving Guyanese livelihoods, such as “Because We Care” cash grants for children through the Ministry of Education, the removal of taxes on essential services and the abolition of tertiary education tuition fees starting in January 2025.
This year, families will benefit from an additional $10,000 monthly tax deduction for each child, translating to an annual relief of $120,000 per child for approximately 205,000 families
These measures are underpinned by Guyana’s remarkable economic growth, driven by the booming oil and gas sector.

ExxonMobil Guyana’s operations, including the Liza Phase One, Liza Phase Two, and Payara developments, have positioned the nation as the world’s third-largest per-capita oil producer, with daily production exceeding 600,000 barrels.
The projected production capacity is set to reach 1.7 million barrels per day by 2030, bolstering Guyana’s position as one of the fastest-growing economies globally.
ExxonMobil has already invested over US$2 billion in local goods and services, and employs more than 6,000 Guyanese in high-paying industry jobs.

Additionally, funds from carbon credit sales—a global first for Guyana—have been allocated to further empower hinterland communities, ensuring inclusivity and equity in national development.
Oil revenues have also fuelled a wave of infrastructure development across the country. Investments in roads, bridges, schools, hospitals, and housing projects are reshaping Guyana’s physical landscape and improving access to essential services.
Key infrastructure projects the President highlighted include the construction of the new Demerara River Bridge, the East Bank to East Coast Bypass Road, and the distribution of 50,000 house lots by the end of 2025. These projects aim to enhance connectivity, reduce commute times, and provide homes for thousands of families.

Looking ahead, the government plans to tap into Guyana’s natural gas resources for power generation. This initiative is expected to reduce electricity costs by 50 per cent, making energy more affordable for households and businesses while driving industrial growth.
The gas-to-energy project will see a 200km 12-inch diameter pipeline channelling natural gas from the Liza Phase One and Liza Phase Two Floating, Production, Storage, and Offloading (FPSO) vessels to a power plant Natural Gas Liquids (NGL) facility that will be built at Wales, WBD.
That pipeline will land on the west coast of Demerara (WCD) shore and continue approximately 25 kilometres to the NGL and power plant facilities. The project has an estimated total cost of US$1.8 billion and is cost-recoverable. The gas-to-energy project is expected to be up and running by the end of the first quarter of 2025 and has a 25-year lifespan.

The conversion of natural gas from ExxonMobil’s offshore operations to electricity is a key component of the government’s objective to lower energy costs through an energy mix which incorporates gas, solar, wind, and hydropower.
“We are building a Guyana where every family can live with dignity, where opportunities for wealth creation are within reach, and where we are fully integrated into the global economy. We are building a One Guyana that is both democratic and inclusive,” President Ali said.
The President highlighted that oil revenues are not only being used to fuel economic growth but also to promote sustainable development and environmental stewardship.