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Public calls for transparency in utilizing oil revenue
Accra, Feb. 25, Ghandot/GNA– Key stakeholders
at the national forum on oil and gas development on Monday
called for the establishment of adequate financial
structures that would prevent people from stashing oil money
into foreign accounts to the detriment of the nation.
They said corruption was one major impediment that was bound
to prevent the achievement of the paramount national
interests, and that the strict adherence to transparency in
the utilization of income from the oil industry would help
the country derive the maximum economic benefits, both
directly and indirectly.
Ghana last year struck oil in commercial quantities
estimated at three billion barrels, with an estimated
200,000 barrels to be drilled per day if well managed.
The two-day forum, which has been couched in the phrase;
“oil- a Blessing: Not a Curse” would discuss four main
themes which are: “Turning Oil and Gas Wealth into
Sustainable and Equitable Development”, “Entrenching
Transparency and Stakeholder Engagement”, “Effective
Management of the Oil and Gas Sector”, and “Safeguarding
Security and the Environment.”
The forum launches a process in which the government would
consult widely over the coming months to prepare a
comprehensive National Oil and Gas Policy and Master Plan
for the sector in the face of the rapid pace of oil and gas
development.
Mr. Ebenezer B. Sekye-Hughes, Speaker of Parliament noted
that the discovery of oil was a one way ticket to prosperity
however, sight must not be lost of the fact that the same
oil had led to hunger, poverty, diseases and environmental
degradation in some countries through oil spillage and weak
management, thus had resulted in a curse for those
countries.
He said a strong and independent legislature, horizontal and
vertical accountability, transparency, respect for
fundamental human rights and the rule of law and a vibrant
media would serve as a check on the industry to help yield
positive results.
“We do not want an oil curse in Ghana. We want oil to bring
us blessings through good schools, hospitals, roads and
drinking water, among other things, to the communities that
would be directly affected by the drilling process,” he
said.
Mr. Sekye-Hughes said operations in the petroleum sector had
the potential of transforming the economy into a middle
income one by 2015 and that lessons must be leant from
Norway, the lead expert of the forum, which had succeeded in
giving her people a high standard of living through her oil
find.
He said the discovery would bring along mercenaries and
people with questionable character, adding that the
immigration or border control systems should be strengthened
to prevent such people from coming into the country.
Nana Odeneho Gyapong Ababio, President of the National House
of Chiefs called for the establishment of a fund from
revenue from the oil find, which clearly outlines the
criteria for selecting beneficiaries to help current and
future generations.
He said employment generation must involve significant
numbers of locally based Ghanaians and that it was only by
that means that the people would benefit directly from the
resource.
Mr. Abdulai Darimani, International Programme Officer of the
Third World Network said the oil discovery in the shores of
Ghana was good news but should not be an alternative to the
country’s continued search for a variety of energy sources
relevant to national development.
He said important sectors like agriculture, small producers
and peasant farmers, especially from communities downstream
oil installations and extraction activities should not be
neglected due to the discovery.
GNA
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