TOR to refine over 60,000 barrels of crude oil daily

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• Saint Ghfuo: Nyantakyi must go! 10 years ago

  GH. Sovereign Wealth Fund
  *These Finance Ministers and politicians in Ghana must read these books.
  *Book: "50years is enough", "Dying for growth: Global inequality and health of the poor".
  *Govts must Invest in Health & E ...
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  GH. Sovereign Wealth Fund
  *These Finance Ministers and politicians in Ghana must read these books.
  *Book: "50years is enough", "Dying for growth: Global inequality and health of the poor".
  *Govts must Invest in Health & Education for the poor = Higher GDPs for Ghana!
  *Corruption Endemic in Africa: Corruption was set up by the colonial overlords who used their western style education to train Africans to be bureaucrats in the civil service. Thus propagating bureaucracy and corruption to favor the colonialists. This is why Boko Haram for example are livid with the corrupt, fiscal number changing, election ballot stuffing, nature of these western educated, african govt bureaucrats in. Will Boko haram end up in Ghana? Why not?
  If the government can attempt to find solutions to these 3 issues. Things will be better. Instead, they engage in nefarious corrupt practices. Which prevents foreign investors from coming in becos there is stealing and no transparency in govt. So there is no money in the economy. So ghana now has to borrow the funds from imf, china etc and then these same corrupt Govts will steal that too! People like these must be jailed or shot dead!
  *Book: "Dead Aid" by Dambisa Moyo
  Every economist, African leader, finance minister must read this book!
  *Book: "why nations fail": an abundance of natural resources is a national curse!
  These nations with natural resource wealth on average have worse financial economies than nations who don't. Why you ask? Weak institutions, corruption, bad governors, managers!
  *Ghana Sovereign Wealth Fund by Martin Skankar.....Norwegian Ministry of Finance
  What is "Dutch Disease"?
  1. 30% of proceeds from oil, gold, diamonds, cocoa revenues etc should be deposited yearly in a Ghana Sovereign Wealth Fund account, a national 401k. This money will never be touched by any govt, period! This money will be invested all over the world in socially constructive projects. Projects to be excluded can include chemical nuclear projects, environmentally disastrous projects, product based exclusions like tobacco, walmart(human rights abuses) will all be excluded. The ROI from this fund will be used to supplement infrastructure projects, free education etc...
  2. A National Gas/oil Tax: Tax Revenue on all consumer gas sales, tolls, solar, wind energy sales will be deposited yearly in a federally administered Highway Trust Fund to fund new and refurbishing roads and transportation initiatives. Add tax revenue from truck/4x4 sales for the list. List this fund on the gsx or in a mutual fund/bond. Flagstaff House will tap intl this Gas tax and match all funds ponied up by the respective regions/local govt. This is how Ghana can wean itself from poverty and begin to acquire wealth and economic sustainability. Borrowing, selling natural resources, corruption, non patriotic govts, no free public education, no healthcare for the people etc won't help Ghana!

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• eric 10 years ago

  Why don't you finish discussion first.
  why do you put this out whiles discussion is on going?

  Why don't you finish discussion first.
  why do you put this out whiles discussion is on going?

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• GJ 10 years ago

  Are there scountries which economy depends solely on oil revenue?

  Are there scountries which economy depends solely on oil revenue?

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• Kwawu Agbemenu 10 years ago

  How does 60,000 brl/day fit into the country's daily requirements? And what % of TOR is Aramco heading to own? We need these answers!!!

  How does 60,000 brl/day fit into the country's daily requirements? And what % of TOR is Aramco heading to own? We need these answers!!!

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• AKOSUA OBINIM 10 years ago

  Has Ghana ever succeeded in doing anything good? Compare Ghana to Malaysia, it appears we are rather going backwards instead of forward. I swear to the almighty, a dog in UK has a higher IQ than the average Ghanaian. We will ...
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  Has Ghana ever succeeded in doing anything good? Compare Ghana to Malaysia, it appears we are rather going backwards instead of forward. I swear to the almighty, a dog in UK has a higher IQ than the average Ghanaian. We will continue to borrow money, our government will continue to lie to the the people that Ghana is doing great and the majority will be following TB Joshua for miracles. The west laugh at us and wonder how low our intelligence is. We have so many universities in Ghana but we still have to seek outside expertise to come in to dig our oil. What are the universities teaching then? Just SEX AND DRINKING???? Think again, the truth hurts. I would desist from using the word 'idiots' to describe my country men.

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