Youth and Oil & Gas Governance in Ghana - Friedrich-Ebert-Stiftung ...

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Youth and Oil & Gas Governance inGhanaof state-owned enterprises (SOEs), public sector downsizing, liberalizationof external trade and payments, deregulation of financialand labour markets and the adoption of investment codes thatprotect capital over labour and community rights.The objectives of the ERP and SAP were to stabilise the economy,promote high economic growth rates and improvements in thematerial conditions of the people. While the economic reformsachieved macroeconomic stability and average Gross DomesticProduct (GDP) growth of 5 percent over the last two decades,Ghana remains highly indebted and poor, resulting in the country’sadoption of Heavily Indebted Poor Country (HIPIC) Initiative in2002.In the last three years, the growth rates ranged at an average of6 percent. In 2008, GDP grew by 7.3 percent and 7.7 percentin 2010. These are impressive growth records by all accounts. Inaddition, inflation has fallen below 10 percent compared to thethree-digit figures recorded in the late 1970s and early 1980s. ButGDP growth (and the measured improvements in the major economicindicators) in the past has failed to change the structure ofthe national economy. It has made very limited positive impact onemployment and other social indicators. GDP growth has coincidedwith rapid decline in formal sector employment and informalisationof employment and jobs. For example, in the mid-1990sGhana was ranked 133 on the HDI; in 2004 Ghana is ranked 131,an only marginal improvement. However, inequality as measuredby the Gini coefficient has increased consistently over the period–from around 0.373 in 1992 to 0.394 in 2006.As stated above, even though Ghana’s economy has mostly grownat an average of five per cent for two decades, this growth couldnot transform the structure of the economy. Until 2010, theagricultural sector remained the highest contributor to GDP andemployment. But with the rebasing of the economy (at constant2006 prices), in 2010, the services sector contributed 51.4 percent to GDP, followed by agriculture (29.9%) and then industry28
Chapter 2(18.6%). However, in terms of exports, the only change in the topfour exports of cocoa beans, aluminium, gold and cocoa butterwas the replacement of cocoa butter with timber.With the discovery of oil in 2007 and commencement of productionin the last quarter of 2010, Ghana has joint the league of oilproducing countries and there are high expectation that the newlydiscovered hydrocarbon resource will enhance economic growth.But still, if this growth will not be used to develop other industriesand re-structure the Ghanaian economy, Ghana will continue tostate a higher annual GDP in future, but the distribution of thisincome will be unjust and only the privileged people in the societywill benefit from it.Background to Ghana’s Oil EconomyThe announcement of Ghana’s discovery of oil in commercialquantities by the UK-Irish oil giant Tullow Oil around Cape ThreePoints in the western offshore was received with mixed feelings-hope and anxiety. Indeed, the announcement of oil discovery wasnot new in Ghana’s history.Prospects for hydrocarbons in Ghana date as far back as 1896following the discovery of oil seepage at Tano Basin, near Half Assiniin the Western Region (KITE, 2010). However, it was not until1970 that the first modest discovery was made offshore Saltpond.Production at Saltpond began in 1978 and a total of 3.47 millionbarrels of oil are reported to have been produced from the fieldover a 7 year period between 1978 and 1985 when productionwas suspended (KITE, 2010). Offshore exploration intensifiedbetween 2000 and 2007 and resulted in the Jubilee find in June2007.29
Page 1 and 2: Admittedly, the discovery of oil in
Page 3: YOUTH AND OIL & GASGOVERNANCE IN GH
Page 7 and 8: ForewordThe discovery of oil in com
Page 9 and 10: Purpose of the StudyPurpose of the
Page 11 and 12: Executive SummaryExecutive SummaryA
Page 13 and 14: ContentsContentsAcknowledgement 3Fo
Page 15 and 16: ContentsGovernment and corporate ag
Page 17 and 18: List of TablesList of Tables1. Expe
Page 21 and 22: List of FiguresList of Figures1. Wh
Page 23: List of MapsList of MapsGhana’s O
Page 27 and 28: find job opportunities immediately.
Page 29: Chapter 2Chapter 2Overview of Ghana
Page 33 and 34: Chapter 2Effects of oil productionW
Page 35 and 36: Chapter 2plan was already on the ta
Page 37 and 38: Chapter 2ExcurseTraditional Ghanaia
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Page 41 and 42: Chapter 2Even though a large youth
Page 43 and 44: Chapter 2Obviously, today’s young
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Chapter 7Chapter 7Youth opinion on
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Chapter 7most respondents do not kn
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Chapter 7• Clauses 46 to 48 provi
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Chapter 7and not the full document.
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Chapter 7Government and corporate a
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Chapter 7not considered to be a cle
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Chapter 7Respondents from the Ashan
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Chapter 7how it could be used for j
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Chapter 7bilee Field has made a glo
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Chapter 8capacity and skills necess
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Figure 14 shows that half of the re
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Chapter 9Chapter 9Media, Community
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Chapter 9Information flow on the oi
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Chapter 9Region, the heart and sour
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Chapter 9be counted due to the high
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Chapter 11Chapter 11Possible Centre
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Chapter 11T.R. Gurr (1970), page 13
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Chapter 11T.R.Gurr (1970), p. 46 an
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Chapter 11Possible Sources of Confl
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Chapter 11• Participation -- is t
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Chapter 11frustration will be proje
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Chapter 11Therefore, the Government
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BibliographyBibliographyUkeje, C. (
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BibliographyNii Moi Thompson and Le
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