“We Will Create Assets For Ghana From Oil Revenues” – President Akufo-Addo
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says his government is going to use oil revenues to create assets for the country, and not waste it on consumption. According to President Akufo-Addo, as a relatively new entrant in the league of oil-producing countries, Ghana is not going to treat her oil like she has done with gold, and allow it to be exported in its raw material form as crude. Ghana’s oil, President Akufo-Addo explained, presents the country with the perfect opportunity to transform the structure of Ghanaian economy through industrialization and value-added commercial activities. “Our oilfields provide us with the perfect opportunity to create a petrochemical industry in Ghana. We have begun the processes leading to the setting up of a gas feedstock industrial estate in the Western Region of the country,” he said. The President indicated further that “we intend to convert our petrochemicals into hundreds of industrial and consumer products produced in G...