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Government to spend 70% of oil revenue on infrastructure

Vice President John Dramani Mahama has announced that 70 percent of Government’s share of oil revenue would be used for infrastructural development throughout Ghana.

The projects, he said would include construction of roads, schools and health facilities to augment the existing ones, and provide new ones for areas that are without such facilities.

Vice President Mahama was addressing the Ghanaian community in Addis Ababa, Ethiopia, as part of his two-day official visit to the East African country, to attend the African Union (AU) Extraordinary Summit.

The Summit, which focused on the political disturbances in Libya and other North African countries, attracted Heads of State and foreign Ministers from all the AU member countries, the United Nations, Economic Community of West African States and other sub-regional organisations.

The Vice President said Ghana’s infrastructural deficit needed massive support, hence Government’s decision to vote a chunk of oil revenue for the sector.

Vice President Mahama said while relying on oil as an interim measure, Government would liaise with developed countries to support its course in infrastructural development to make life comfortable for every Ghanaian.

He said the remaining 30 percent of the oil revenue would be channelled towards the stabilisation of the economy and other economic ventures that would provide constant growth and development.

The Vice President gave the assurance that Government would adopt prudent measures that would consistently slow down population growth and its inherent problems of hunger, disease and poverty.

Mr Kwesi Quartey, Ghana’s Ambassador to Ethiopia, gave the assurance that Government would continue to strengthen her relationship with Ethiopia for the mutual benefit of the two countries.

http://news.myjoyonline.com/news/201105/66489.asp

 

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