Posted by: Odzangba | June 19, 2007

Don’t know if I should be happy about this…

Well, it seems oil has been found in Ghana. On the one hand, this is good news – this could mean a load of cash to fuel our development. But I am very worried about what could happen if things were mismanaged. One just has to look at a few other African countries where oil or indeed any natural resource has been discovered. I won’t go too far… Nigeria. That country, if anything has been destabilized and, in some ways, impoverished by it’s oil wealth.  I’d hate for that to happen here in Ghana.

What I’m very interested in right now is how the oil money is going to be shared between the oil companies and the Government of Ghana. I hope we cut a sweet deal. A bit more about this later.



  1. from what i understand Ghana is only getting 10% of the cut, with the rest going to foreign companies. if this is true, i seriously doubt this oil discovery is gonna jump-start anything. if we consider 300mil barrels at $70 a pop, we’ll be getting a little over 2billion dollars out of a possible 21billion dollars. while 2billion is a lot of money, it’s still small considering how big that cake is.

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