The Flagbearer of the National Democratic Congress (NDC), John Mahama, has attributed the 35% reduction in Ghana’s petroleum production to corruption within government ranks.
In discussing this decline, John Mahama pointed to the exit of significant investors such as ExxonMobil, who have shifted their focus to countries like the Ivory Coast.
He noted that during the administration of the late Atta Mills, the government successfully discovered oil in the Western Region and subsequently established the Etuabo power plant, which facilitated gas production for the Thermal Gas plant to generate energy.
Mahama further explained that Ghana entered into a contract with China after securing a loan to construct the Etuabo power plant, from which the country derived financial benefits.
He mentioned that the establishment of the power plant led to increased employment opportunities in the Western Region. However, following eight years under the NPP administration, the oil and gas sector faced significant challenges due to the demands for a share of the profits from close associates of the President.
“Due to the way they were extracting percentages from the oil and gas contracts, ExxonMobil chose to withdraw from the agreement. This company was one of the largest investors in the oil and gas sector, but corruption ultimately led to their exit,” John Mahama stated.
