Dr Sam Ankrah Has Promised To Domesticate Ghana's Oil Industry If Elected President
- The leader of the Alternative Force for Action (AFA), Dr Sam Ankrah, has pledged to domesticate oil production in the country
- He said the only way to address the country' pressing economic challenges is by implementing radical and transformative policies
- He said by ensuring the domestication of the petroleum industry in Ghana, his government would be able to address unemployment and cedi depreciation issues
The Alternative Force for Action (AFA) led by Independent presidential aspirant, Dr Sam Ankrah, says it will domesticate oil production in the country as part of a comprehensive and radical strategy to revitalise the economy if he becomes president.
Dr Sam Ankrah stated that to wholistically address the country’s economic challenges radical and transformative policies must be implemented immediately to avert societal collapse.
Source: UGC
He said one of his radical solutions to the country’s woes is the domestication of the oil industry, particularly the refining of crude oil in the country.
The independent presidential aspirant believes that by pushing for the refining of all the crude oil produced in the country within the country, it would address a myriad of challenges plaguing the country including the cedi’s rapid depreciation and high unemployment rates.
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He said the country produces twice as much oil as it consumes and yet all of it is exported to foreign lands where they are refined and imported back into the country at an even higher rate than the crude was sold.
In an interview on JoyNews, Dr Ankrah said the model is not sustainable and highly inefficient, and if continued would continue to cripple the country.
He said should Ghanaians give him the nod in the upcoming December 7 polls, within the first 90 days of his administration he will set in motion his plan to domesticate oil production and refining in the country.
He said he would convene a round-table discussion with key oil industry players and proposition them to set up a 200,000-barrel-a-day refinery in the country.
He said should these sector players refuse to pool resources and establish the refinery, within the first eight months of his administration he would secure an agreement with other private sector players to establish the refinery.
Bawumia to promote 100% Ghanaian ownership of mineral wealth
The flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, has also promised to refocus the country’s paradigm for natural resource management.
According to the vice president, the current framework governing the country’s mining sector has placed much of Ghana’s minerals in the hands of foreigners.
This, he says, has created the impression that Ghanaians are not in control of the country’s mineral wealth.
According to him, if he is elected president, he would ensure 100% Ghanaian ownership of mineral resources.
He was speaking at a meeting with religious leaders in the Eastern Region on April 29, at the commencement of his 2024 election campaign tour.
Alan Kyerematen rubbishes Bawumia’s claim
YEN.com.gh reported that the founder of the Movement for Change, Alan Kyerematen, has rubbished Dr Mahamudu Bawumia's claim that Ghanaians seemingly do not own 100% of the country's resources.
According to him, the vice president is misleading Ghanaians as ownership of the country's resources is guaranteed by law.
He described it as mere political talk and urged Ghanaians to disregard such suggestions.
Proofread by Berlinda Entsie, journalist and copy editor at YEN.com.gh
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Source: YEN.com.gh
