Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Don’t Expect Much From Oil Revenue – Says Prez Mahama

  • SOURCE: | Editor
  • Prez MahamaPresident John Mahama has asked Ghanaians not to expect much from Ghana’s oil revenue.


    There has been high expectations among Ghanaians towards the revenue accruing from oil exploration in the country.

    But President Mahama says those expectations are unrealistic and exaggerated.

    Addressing students at the University of Cape Coast, Mahama said the oil industry has seen many challenges that have reduced the country’s finances meant for developmental activities.

    “The advent of oil production has led to high expectations…compared to Nigeria’s production of 2.4 million barrels per day, Ghana’s average oil production of 105, 000 barrels per day in 2014 can be considered chicken change.

    “It is also important to note that only a percentage of the annual oil revenue goes into what we call the annual budget funding amount and is available for government to spend,” President Mahama said.

    President Mahama also asked the youth to keep faith with government as it continues to put in place policies to improve their living conditions.

    Source: http://business.peacefmonline.com/pages/economy/201605/278447.php

    Source: starr FM

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Aug 2018 >>
    MTWTFSS
    30 31 1 2 3 4 5
    6 7 8 9 10 11 12
    13 14 15 16 17 18 19
    20 21 22 23 24 25 26
    27 28 29 30 31 1 2
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar