31.2 C
Accra
Friday, December 2, 2022

'Ghana can maximise benefits of local content policy'

Must Read

President Akufo-Addo lauds Farmers as Yaw Sarpong Serebour adjudged 2022 National Best Farmer

By Nana Asare Mireku President Akufo-Addo has lauded farmers for ensuring food security in the midst of the current global...

The Standing Market in Doha

By Benjamin Willie Graham Souq Waqif known as "the standing market") is a marketplace (souq) in Doha, in the state...

Ghana Vs Uruguay: I don’t like the conversation around revenge- Abigail Sosu

By: Roberta Gayode Modin Ghana's dream of being the first African country to make it to at least the semi-finals...

A Petroleum Engineer, Professor Wumi Iledare says Ghana can maximize the benefits of its local content policy, by developing competent workforce, transparency and accountability as well as institutional empowerment.

He said a long term local content has the potential to stimulate inclusive socio-economic development.

He noted that Ghana can effectively implement its local content by learning from the Nigerian experience which has adopted a more holistic focus in terms of indigenous participation.

Prof Iledare was speaking at a Lecture on Local Content impact on the Oil and Gas Sector in Accra.

Local Content refers to the quantum or percentage of locally produced materials, personnel, financing, goods and services rendered to the oil industry, and which can be measured in monetary terms.

Ghana passed a Local Content and Local Participation Bill in 2013 as part of plans to ensure that Ghanaians benefit from the petroleum industry. If the local content policy is successfully implemented, it is expected to lead to job creation, facilitation of technology and knowledge transfer, boost domestic private sector and build a competitive local workforce.

Prof Wumi Iledare said Ghana’s local content can be effectively implemented by drawing lessons from the Nigerian experience.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

President Akufo-Addo lauds Farmers as Yaw Sarpong Serebour adjudged 2022 National Best Farmer

By Nana Asare Mireku President Akufo-Addo has lauded farmers for ensuring food security in the midst of the current global...

The Standing Market in Doha

By Benjamin Willie Graham Souq Waqif known as "the standing market") is a marketplace (souq) in Doha, in the state of Qatar. The souq sells traditional...

Ghana Vs Uruguay: I don’t like the conversation around revenge- Abigail Sosu

By: Roberta Gayode Modin Ghana's dream of being the first African country to make it to at least the semi-finals of a FIFA World Cup...

Rice cultivation records a steady increase of 5% in Akatsi South

Mr. Charles Grunitzky, the Akatsi South Municipal Director of the Department of Agriculture, has disclosed that rice cultivation in the area has seen a...

38th Farmers Day: More investments in Agriculture for Food Security

By George Ankrah, a Journalist 38 years ago in 1984, in the first week of December, Ghana celebrated its hardworking farmers and fishers for producing...

More Articles Like This