An Open Letter To The Government And People Of Ghana

In the name of God and Ghana, present and future, PLEASE CALL OFF THE THREE BILLION US DOLLAR LOAN from CHINA or at least review it.

We write at the request of the Most High God to plead with the Government of Ghana TO GO SLOW and STOP FAST DRAIN ON and HEDGING of NATIONAL ASSETS, the oil asset to wit.

Specifically, we caution against the Three Billion US Dollar (US$3billion) Loan from China which for all intents and purposes is hedged against the nation's present and future OIL SUPPLY and OIL REVENUE. The Lord God of Hosts has asked His servant to caution the Government against the loan.

According to the Lord, the loan arrangement as presently stands is not in the best and long term interest of the country. Instead, there should first be a SPECIAL NATIONAL PLAN for the management of the oil and gas asset, its revenue allocation and disbursement against a background of a vision of long-term development, progress and stability of the country. The loan if any should fall within the confines of the national plan for the oil and gas asset.

According to the Lord Most High God, the NATIONAL PLAN for Oil and Gas of the country should provide for a THREE SECTOR APPROACH in revenue allocation and disbursement as follows:-

• THE CONSOLIDATED FUND – for government budgetary and development needs
• THE NATIONAL DEVELOPMENT FUND – to be managed by a NATIONAL COMMISSON on OIL and GAS and MINERAL WEALTH of the country free from control of government, empowered to draw up national development plan(s) in consultation with government, political parties, chiefs, private and public agencies and the general public.

  The commission should be free from the vagaries of political party manifesto gestations, government changes, instability and corruption prompted by the usual political party patronage and party oriented development plans.

• THE NATIONAL RESERVE FUND – into which at least TWENTY-FIVE PERCENT (25%) of oil and gas (and mineral wealth) revenue should be paid.

The National Reserve Fund will serve as a buffet fund for FUTURE DEVELOPMENT NEEDS and EXIGENCIES in the oil and gas industry, mining and other natural resource oriented industries and the process of economic development and social change in the nation with years and generations coming in mind.

From the foregoing, it will be apparent that tying up the entire or major portion of revenue from oil and gas to one regime and one generation is VERY UNSAFE and indeed UNWISE, not to talk of embedded CORRUPTION, INEFFICIENCIES and CHALLENGES particularly with such clear NON OPEN DISCUSSION, INAPPROPRIATE CONSULTATION, INADEQUATE PLANNING and AGREEMENT on PURPOSES, STRUCTURE and DIRECTION of the loan.

We make known the Divine will concerning the oil and gas industry in humility, obedience and faithfulness to the Most High God whose servant and spokesman we are. We also do so in loyalty to and deep concern for the development, peace and progress, stability and prospects of the country.

Perhaps, it is necessary to mention that, we have been privileged to make known Divine Mind on the oil asset of the country as far back as the 70s. We take note also in this regard of the reported approval of the loan arrangements by the International Monetary Fund (IMF), the World Bank and also the highly respected Centre for Policy Analysis (CEPA) of the country.

These three organizations are managed by human beings just as the governments of both Ghana and China which initiated the loan arrangements. They are all not free from political and economic interests whatever they be on one part and human error on another.

We end with this brief observation nonetheless. The approval of the IMF and CEPA have not had the benefit of the Divine concerns about politics and governance, economic and future development and social issues which the ONE-BAG, ONE-SHOT INVESTMENT OUTLAY will generate. They cannot see much more address the future challenges.

In any case, the implied Chinese hand and virtual control of the oil-gas assets is in every sense an aspect of the negative factors in global politics and investment practice over the years. The concentration of wealth and related overly control of nations and perpetuation of evil, exploitation and oppression in the OLD ORDER in global politics and economics must be resisted, indeed changed in this era.

As matters stand now, Chinese wealth is proving a critical and necessary part of Euro-America control of global political power and wealth of the nations. The US, Europe and the IMF together need CHINA. Oil from Ghana however scanty is an important source of energy. We cannot hedge our assets to foreign mortgage and jeopardize Africa's development before it takes off.

Thus, it can be safe to say that the World Bank is only seeking her interest in the approval of TRANSFER of ASSETS and WEALTH from GHANA-AFRICA and rest of the world to the US-Europe global wealth control system of the capitalist world order. In any case, what prevents China from being a mighty player in the global political and economic game? Why should Ghana be a pawn in this game!!

We trust CEPA will do an analysis to advise Ghana and Africa where the oil and gas reserves and funds connected therewith will go. We need a comprehensive social and economic development plan with a well thought out input-output arrangements that will help usher in development, progress, stability, security and prosperity. We need a deeper examination of the investment and end-use profile for oil and gas and for other minerals, land and forest assets of the country.

Finally, we trust President Prof. Atta-Mills' Government and appointees, investors and contractors and all will BE READY TO ANSWER to the MOST HIGH GOD, the God of Ghana and the people of Ghana to-day and tomorrow for the oil and gas asset utilization, revenue and consequentials involved.

We humbly plead that Government must be patient and take pain to seek, obtain and involve all parties and the entire nation for a comprehensive NATIONAL PLAN for OIL and GAS and indeed the MINERAL WEALTH and ASSETS of the country. To do otherwise and particularly for short mid-term political party gain is A BETRAYAL of TRUST and of GHANA.

God save Ghana!
January 12, 2012
Enoch Immanuel A. Agbozo
immanuelenoch@yahoo.com

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