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

Youth and Oil & Gas Governance inGhanation period. Assuming the World Bank was right, the Exxon bidfor 23.5% of the field was far too high – if they do not expectproduction in other fields. The German development agency GIZestimates the annual Government revenue between US$200 millionand US$1 billion, while the World Bank predicts the highestGovernment revenue (in year 2016) to be US$1.8 billion. Thesevariation shows, how different institutions interpret different data.On March 9, 2011, the Bank of Ghana received the first royalty ofthe total first lifting of crude oil since December 2010 by all partnerswhich was about US$ 31 million. 13An Overview of the Youth Situation in GhanaGhana has a relative youthful population which faces various challenges.The National Population Council observes that althoughthe population of young people is projected to decline in the nearfuture, their continuous increase in absolute numbers after 2025poses a challenge to the government. According to the preliminarynumbers of the not yet published Housing and PopulationCensus in Ghana, the population growth rate between 2000 and2010 was 28.1 percent. 14In respect of this high percentage, the future growth of the populationcould cause serious conflicts if the state does not respondwith efficient programmes particularly in the field of education,health, skills training and employment.As the much clichéd future leaders, young people represent immensepotential, as both threat and opportunity. Political leadersdemanding change and those seeking to defend the existingorder, seek to mobilise young people to their side. In effect, theenergies and abilities of young people are exploited positivelythrough various activities that promote development and negativelythrough their involvement in violent conflict and other socialvices that undermine social progress.13 Ministry of Finance and Economic Planning (Ghana), Press Release, May3rd, 201114 Ghana Statistical Service38