Oro Oil CEO urges President-elect Mahama to leverage oil palm exports for economic growth
The Chief Executive Officer of Oro Oil Ghana Limited, Maxwell Commey, has urged President-elect John Dramani Mahama to prioritise palm oil exportation as a cornerstone of his administration’s proposed 24-hour economy.
Mr. Commey believes the strategy could significantly boost economic resilience and address Ghana's unemployment crisis.
In an interview, the CEO highlighted the vast potential of Ghana’s agricultural sector, particularly oil palm, as a tool for economic transformation.
"The export of palm oil alone to African countries like Nigeria offers enough opportunities to create employment for millions of Ghanaian youth, provided the government creates an enabling environment for private sector participation," Commey stated.
Mr. Commey, who also serves as a board member of the Tree Crops Development Authority, revealed that despite his company being Ghana's largest palm oil exporter, it struggles to meet both domestic and international demand. “I currently meet just 30% of the needs of a single client in Nigeria. Government support, such as the provision of a Land Bank, would greatly empower private investors in agriculture,” he explained.
He added that enhancing local production and reducing the nation’s dependence on imports is essential for economic stability. "During festive seasons, we should encourage corporate entities to prioritise local produce over imported goods for hampers," he noted.
Recommendations for the new administration
Mr. Commey called for a depoliticised approach to governance, especially in initiatives like the Accelerated Export Development Council. "The council will be more efficient if partisan politics is eliminated. Decisions should involve industry players with proven track records rather than being driven by political agendas," he stressed.
On youth unemployment, Mr. Commey emphasised the importance of creating an enabling environment for private-sector investment. He also called for mentorship programmes in agriculture to make farming attractive to young people, coupled with a shift towards commercial farming.
"The expansion of agriculture and related industries through a 24-hour operational framework could diversify Ghana’s economy, reduce unemployment, and attract Foreign Direct Investment (FDI)," Commey said.
Agriculture remains a critical pillar of Ghana’s economy, contributing significantly to GDP, employment, and trade. Mr. Commey believes a focus on sectors like palm oil within the broader framework of a 24-hour economy can unlock immense potential and drive long-term growth.