It is time to take control of our resources – Greenstreet

The flagbearer of the Convention Peoples’ Party, Ivor Kobina Greenstreet, says it is about time Ghanaians took control of their resources.

He made the passionate call at Jasikan in the Buem Constituency of the Volta Region, during his 'Apam Fofor?' tour in the region.

He noted how Ghana has been blessed by God with a number of natural resources.

“We have gold, oil, gas, timber, cocoa, diamonds, bauxites, fertile lands, access to water resources, we are not supposed to be poor,” he exclaimed.

The flagbearer was not pleased with a decision by Parliament –mainly made up of NPP and NDC – to reduce the royalties and tax paid by Goldfields to the Government of Ghana.

The royalty and tax between 2010 and 2015 Ghana earned $3 billion dollars, but he believed but for a poor tax and royalty regime, Ghana could have gotten more from its natural resources. He said the CPP prefers the production sharing system.

He explained that the system is similar to a farmer who has land and shares the proceeds of the crop grown with whoever grew it. He suggested that if this production sharing system was applied to oil, instead of only earning $3 billion dollars, Ghana would have rather earned $9 billion dollars.

This money could be used for developmental projects such as education, health, roads, farming inputs as well as subsidies for the Ghanaian businesses. He went on to say that there was too much suffering and hardship in the system.

Mr. Ivor Greenstreet said the production sharing system is employed by Nigeria, Cote d’Ivoire and many other progressive African countries.

Flanked by the National First Vice Chairperson and the Volta Regional Chairman, the flagbearer outdoored Nelson Asafo as the CPP Parliamentary nominee for the Buem Constituency.