government action

WESTERN

Call for Action to Address Ghana’s Stagnant Oil Sector.

Industry experts and stakeholders are urging the Ghanaian government to take decisive action to revitalize the country’s stagnant oil sector. Despite Ghana being an oil-producing nation since 2010, the industry has faced numerous challenges, including declining production rates, regulatory hurdles, and inadequate infrastructure.Recent reports indicate that oil production in Ghana has significantly dropped, raising concerns about the country’s ability to meet its revenue targets from the sector. The Ghana National Petroleum Corporation (GNPC) has acknowledged the need for reforms to attract foreign investment and stimulate growth.In response to these challenges, experts are advocating for a comprehensive review of existing policies and regulations. They suggest that the government should prioritize the development of local content policies, improve the investment climate, and enhance capacity building within the sector. Moreover, there is a call for increased collaboration between the government and private companies […]

Edem 4Style October 22, 2024