Local content can boost enterprise development-Chamber

Mr. Stephen Annan, Executive Secretary of the Sekondi Takoradi Chamber of Commerce and Industry (STCCI), on Friday advocated the passage of the Local Content Bill to ensure that operators in the jubilee oil fields did the right things.

He said the bill had the potential to boost enterprise development and capacity building of the locals which would culminate in the overall growth and development of the region and the country as a whole.

Mr. Annan was speaking at a breakfast meeting organised by the STCCI to discuss issues surrounding the impending Local Content Bill that is currently before the country’s legislature.

He called on the chiefs and people of the Western Region to agitate for the passage of the bill.

Nana Kobina Nketsiah V, Omanhene of Essakido Traditional Area expressed dissatisfaction of the delay in passing the bill adding; “after five years of oil exploration and drilling, we are yet to pass a law that will regulate activities of operators”.

Mr. Tony Paul, an Oil and Gas Consultant from Trinidad and Tobacco who spoke on “Local Content Implementation: International Experiences and Lessons; Ghana’s Approach,” said the country could only maximize value from the oil resources through fiscal and non-fiscal measures such as royalties, taxes and local value addition.

He mentioned capacity building, good governance and management, as very important to enhancing local activities and that “the sector only employs four per cent of the population”.

Mr. Paul therefore called for strategic and comprehensive skills development programmes to ensure that Ghana got the best out of its oil and gas resources.**