Ghana challenged with how to develop oil and gas industry - Akufo-Addo

Akufo-Addo speaks at International Energy Conference and Expo in Guayana

Participating in oil and gas will enhance national development, Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has said one of the major challenges of the country is how to develop the oil and gas industry.

According to him, getting more local companies to participate and invest in the oil and gas industry - which is conducive and bears a favourable outcome was pretty difficult.

In an address at an International Energy Conference and Expo in Guayana, President Nana Addo Dankwa Akufo-Addo said, the more people participate in the downstream sector will, in turn, create more jobs in the country.

The country, he said, will also witness development.

“A major challenge that we’ve been confronted with is how to develop the oil and gas industry with optimum local content and participation, enhance national development and create jobs. We resolved that the involvement of Ghanaians in the exploitation of oil and gas resources could be achieved through mandatory local content in all aspects of petroleum activities,” President Akufo-Addo said.

He noted that the government is trying its best to encourage more people into the oil and gas industry.

Meanwhile, there's an enacted law that allows local content participation in the oil and gas industry.

The local content policy supported by L.I 2204 is geared towards a progressive and comprehensive integration of Ghanaian citizens into all aspects of Ghana’s oil and gas industry.

It is to ensure that Ghanaians benefit to the brim from this local content policy.

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