Be modest in expectations from oil production — Veep
The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has called on Ghanaians to be modest in their expectations from the commercial production of oil.
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He noted that the exploration of oil and its commercial production had raised the expectations of many people, especially in the Western Region.
He said as legitimate as those desires might be, it was also important that they were grounded in realism and better managed.
He acknowledged that the Western Region virtually defined the country’s economic potential, possessing most of the mineral and agricultural resources.
Mr Amissah-Arthur was launching a programme yesterday to facilitate multi-stakeholder efforts to address the economic, social and environmental challenges in the six coastal districts in the Western Region in Takoradi.
Known as the Western Region Coastal Foundation (WRCF), the programme, among other things, brings together key participants for the effective use of corporate social responsibility (CSR) funds for development, conflict resolution and inclusive growth in the region.
The beneficiary districts are Jomoro, Ellembelle, Nzema East, Ahanta West, Sekondi-Takoradi and Shama.
The United Kingdom (UK) government, through its Department for International Development (DFID), has committed £9.5 million over a five-year period (2014-2019) to support the programme.
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Need for caution
Mr Amissah-Arthur said it would be unfortunate for people to expect oil production to provide for a dramatic improvement in lifestyles in a short period because of the peculiar circumstances surrounding the development of the resource in the country.
‘‘Being a latecomer in this industry, Ghana needs to adopt the best lessons from the experiences of other countries. Compared to some oil exporting countries in Africa, our level of production is, to be honest, modest.
“Therefore, we cannot expect it to provide for a dramatic improvement in our collective lifestyles in a short period,’’ the Vice-President said.
He said the WRCF was a development model that would avert the social and economic instability created by the failure to distribute the substantial financial flows generated by petroleum production in some countries.
He said the government recognised that proper governance of the petroleum sector and the management of the resource would accelerate the transformation of the economy but noted that we must be moderate in the expectations associated with petroleum production.
He said the country needed a stable atmosphere to enable it to maintain consistent production at optimal levels.
British Envoy
The British High Commissioner in Accra, Mr Jon Benjamin, said the British Government was committed to global development and poverty reduction.
He said the WRCF was one way by which the government, the private sector, traditional authorities and individual community members could collaborate to ensure stability and inclusive growth in the six coastal districts and the country as a whole.
Osagyefo Kwamina Enimil VI
The President of the Western Regional House of Chiefs, Osagyefo Kwamina Enimil VI, said the people of the region did not want to experience the ills relating to oil and gas activities that had befallen some countries.
He said the situation could be avoided if the government, companies in the industry and other stakeholders commit themselves to addressing concerns raised from community conversations.
The Chief Executive Officer (CEO) of the Ghana Gas Company Limited, Dr George Sipa-Yankey, expressed the company’s readiness to work with the management and all other stakeholders of the WRCF.