The Exploration for Black Gold

Ghanaians have suffered considerably from demand for oil. Many years past have seen various taxes on petroleum products raised to generate funds for oil exploration. The amount accruing in a year has never been made known to Ghanaians. We have knowledge of how such funds have been supposedly mismanaged, a case pending in court.

The current government is purported to have increased the levy twice. Though it justifies the increase, when are we going to be spared of this collection of money without explaining how the previously collected money has been used? Please honourable president and team you can do better. There are many doubts on the mind of Ghanaians about the integrity of our present government. It is not of fair speeches, but prudent objective acts. I have had my difficulty with the government as it hopes and allows international institutions to dictate how the country will have to be managed. Their suggestions are welcome but the real deal is pursuing the steps you had to change the plight of Ghanaians. As it stands now we are wondering whether managers in act are governing us or managers in books. It is only fair and appropriate to make public the amount that accrued from the previous various levies and how they have been dispersed. We had this much from the road levy and have spent it thus; this much was collected for the exploration levy and have thus spent it. Will you clear the air please, the over silence of the government is becoming unbecoming. The amount collected for the settling of TOR debt and the amount paid is nobody's secret. Ghanaians paid and have a right of knowing. Honorable government, the era of secrecy is overdue, transparency is the first prescription against corruption. We are only being informed that the budget of GNPC is 49million cedis, and therefore the levy will have to go up. Let's remember, he who pays the piper dictates the tune. Please come again and better honourable president and team.

It is true that oil has been found in the ground in the past and has been the obvious place to explore. But am sure Ghanaians and the government must embrace that oil can also be found on trees. I was disheartened when Mr. Onua Amoah had to call on some British to invest in the Physic nut. If we have been exploring for oil and has obtained an alternative what was wrong in using the proceeds from the oil exploration levy to invest in it. As it stands the government saw it as someone's personal discovery and only gave verbal consent. The western world has developed as the governments adopted and supported wholly in kind and everyway possible the discovery of individual nationals. The other non prudent action was to look for foreigners to invest in it. If loans have been contracted for road construction, is it not possible to secure loans for such a worthwhile venture? The recent oversubscription of the floated shares of Cal Merchant Bank indicates that the government could have raised substantial income from Ghanaians if they were informed on it. Ghanaians have the right and potential to fully own and manage the resources we are blessed with in our land. Please expedite action on popularizing the Physic nut among farmers. This GNPC should do. Also deliberations with Mr. Onua Amoa about the raising of funds locally for more processing equipment in every region where the Physic nut is cultivated will be one prudent action of GNPC. It is painful like gold we have to loose this opportunity to wholly harvest and process a natural product into finished goods. We are not only Ghanaians to be primary producers. Is it not a shame on our leaders that till date there is no gold market in Ghana? Remember our forefathers kept savings in gold.

Another breed of Ghanaians are emerging and they are dissatisfied with the status quo. The mentality of no sufficient funds will have to be done away with. We cannot fail to act unwisely in selling all our resources to foreigners. The government will have to act quickly such that moneys generated are not exported. If the money stay in circulation in Ghana, the better. I hope GOIL and other local oil firms are being positioned and aided by the government (legislations) and financial institutions to benefit from the oil deregulation of petrol. It is creating wealth to share, making as many Ghanaians as possible to share in the success of others. Our Private enterprise minister and trade minister will be appropriate with the help of SEC to find means to educate and enable Ghanaians share in potential prospects.