Could We Use The Oil To Begin A More Transparent Governance

and Wiser Management of our Resources? –(I)

By the latest information available that Ghana National Petroleum Corporation (GNPC) has the financial resources to purchase the interests of Kosmos Energy LLC. in the Jubilee Oil project, it is obvious the Nation wants to maximize its benefits derived from the Oil discovery. It has been reported that GNPC would then partner with some other, ostensibly private, entity to manage the resource. But how is the anticipated partnership sought with a private Entity going to pan out? Most of us Ghanaians have witnessed a colossal failure of State Owned Enterprises over the Nation’s lifetime with only a few exceptions and are wary of seeing this golden opportunity for the Country to break out of the crucible of poverty dissipated amidst a dubious cloud of Corruption and Mismanagement that characterized the failed State Enterprises.

With lessons from Nigeria’s Oil Exploitation Crises, and the current thick cloud of suspicion on how various vital State Enterprises in the Country were divested, or Private Firms awarded contracts, it is only fair for the Citizens of Ghana to demand the chance to contribute inputs in whatever business deals the Government is poised to go into to develop the Oil. At least, the people reserve the right to be informed on the details of whatever deal that might be arrived at. I hope the Parliament deliberates on the final deal to arrive at some approval before enforcing it.

But from my perspective, however, I would at this point, like to make a general request that whatever deal that our Government initiates must succinctly delineate incontrovertible, irreversible guarantees to safeguard the People’s interests and ensure that benefits from the Oil Exploitation reverberate throughout the entire existence of the Nation, long after the Oil fields dry up. That would imply getting the Partners agree to the establishment of either some lastingly sustainable Trust Fund that would be a financial backbone for our future endeavors, or viable Economic or Financial Structures that would survive the exhaustion of the Oil Deposits in providing us some collateral for needed financing of major projects along the way. These provisions must exist in the deal along with any deserving immediate investment plans for developing our basic infrastructure across the length and breadth of the Nation.

Let us all be patient but encourage our President to do the right thing. We should not use Partisanship in upsetting any progress in the deals. Thwarting the Government’s efforts that genuinely benefit us all for the purpose enhancing our rival Political opportunities would boomerang upon us. However, we should not just sit by to have yet another dubious, soul-selling deal foisted upon us. We should all be liberal in sharing any ideas that can ensure that we get it right this time around, crafting the best deal possible under the circumstances for mother Ghana. The scandalous pillaging of the Nation’s assets must stop, beginning with this god-sent lifeline to recovery and prosperity.

The Mills’ Administration must allow the Opposition and the general Public enough opportunity to contribute their opinions in its efforts to broker the best possible Oil deal for the Nation, even as it pursues vigorously remedial measures to correct any previous State contracts. In a similar vein, our Opposition must also not shy away from offering the most helpful views regarding the deal. Because any apathetic, passive or undercutting machinations to derail the deal would be viewed by the whole Nation as most unpatriotic and self-serving, symptomatic of the plethora of allegations others have already leveled against the Opposition that it subserves its parochial interests over the well-being of the Country. In fact, in the end, any positive contribution from the Opposition to the success of the deal could bolster its credibility for future drives to win the people’s confidence.

Long Live Ghana!!!

George Berko