Govt will use oil revenue for all Ghanaians

30/9/09

Story: Musah Yahaya Jafaru
THE government has reiterated its commitment to use the expected revenue from oil and gas to address the needs of all Ghanaians, but not to enrich the few privileged ones.
Vice President John Dramani Mahama has mentioned that the government intends to employ best practices in the generation and use of revenue to bring the needed development to the country.
He was speaking when a seven-member business delegation from Trinidad and Tobago called on him at the Castle, Osu, on Monday.
The delegation is in the country to explore areas of co-operation with Ghanaian companies in oil and gas sector.
Mr Mahama said experiences of oil discoveries from other countries proved to be a curse rather than a blessing.
He noted that in those countries revenue generated from oil and gas benefited only a "wealthy superclass leaving out the masses in abject poverty."
He said the government was committed to reversing that trend to ensure that all Ghanaians benefited from the yields of the oil exploration and refinery.
Mr Mahama said recent discoveries showed that Ghana had great a potential in terms of oil and gas reserves.
Therefore, he said, the government would co-operate with countries that had good footing in the energy sector in order to tap their best practices and form local content legislation.
He urged Trinidad and Tobago to partner Ghana in terms of training and capacity business building.
The High Commissioner of Trinidad and Tobago to Nigeria, Mrs Victoria Mendez-Charles, who led the delegation said her country wanted to explore areas of co-operation in the oil and gas sector with Ghanaian companies.
She said Trinidad and Tobago had rich experiences in the oil and gas sector and was ready to share that expertise with Ghana.
Mrs Mendez-Charles said the visit was also an attempt by the Government of Trinidad and Tobago to build the South-South co-operation with Ghana, and expressed the hope that the relations between the two nations would be further strengthened.