‘We have done absolutely nothing to build on oil investments for the past 8 years’ – Franklin Cudjoe

The Founding President of policy think-tank, IMANI Africa, Franklin Cudjoe, has expressed concern over the country's inability to capitalise on investments made by successive governments.

He argued that despite securing investments amounting to about $13 billion under the John Mahama administration, the current New Patriotic Party government has failed to build on these investments, particularly in the oil sector.

In a post shared on Facebook, the IMANI Africa president wrote, "Sadly, we have done absolutely nothing to build on the oil investments for the past 8 years. Just big talk and high school playground fighting, like with ENI.

hambolic that figures like John Peter Amewu, as Minister of Energy, and the Petroleum Commission became a huge joke as they missed and messed up basic arithmetic. All the energy ministers since 2017 were just glorified local champions talking big with no substance. All they added were huge judgment debts."

Cudjoe's comments come on the back of how Ghana's oil sector has barely witnessed any new discoveries in the past seven years, impacting the country's oil production output and revenues.

Recently, the Minister of Finance, Dr. Mohammed Amin Adam, announced that the government plans to develop newly discovered oil fields to enhance the nation's overall GDP.

Speaking at the Future of Energy Conference in Accra, the finance minister explained that the government seeks to capitalise on newly discovered oil reserves to boost national revenue and finance critical capital projects.



MA/AE