Middle East countries are filthy rich because their oil belongs to them - Sam Okudzeto on lithium deal

A Member of the Council State, Sam Okudzeto has waded into conversations surrounding Ghana’s lithium mining deal with Barari DV Ghana Limited.

He said it is unfortunate that Ghana gives out its mineral resources only in exchange for royalties.

According to him, Western countries have the wealth they have because they do not sell their mineral resources, they contract people to work on them and pay them.

“The reason why all the countries of the Middle East are filthy rich is because the oil that they have belongs to them. All the companies that go there to explore for oil are contracted, they are paid, and they don't own the oil. We have lithium in large quantities and we are allowing someone to come and take it and go and sell it. You will not bring 100 percent of the money to Ghana; you give us 10 percent," he said during a meeting with the Christian Council on Tuesday, December 12.

The legal luminary added that it is unwise to give the mineral resource out at the current rate without the due returns.

“I have raised this matter some 20 years or more years ago, this question about having minerals and letting somebody come and give you royalty as if , it is the stupidity of the stupidities. The lithium agreement is not in the interest of Ghana, that is my view and if you agree with me, then let us make a statement in support of the IEA to say that we do not think that this agreement is in the interest of Ghana,” he added.

SSD/NOQ

Watch the latest edition of BizHeadlines below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel