President Akufo-Addo says Ghana is still struggling to get more local companies to participate in the oil and gas industry years after laws allowing local content were enacted.
The President was speaking at this year’s International Energy Conference and Expo in Guayana.
Ghana’s local content policy underpinned by L.I 2204, is geared towards a progressive and comprehensive integration of Ghanaian citizens into all aspects of Ghana’s oil and gas industry to ensure the benefits of the industry are maximised for Ghanaians.
In his address to the gathering at the expo, President Akufo-Addo stated that the government was doing all it could to encourage more local participation in Ghana’s oil and gas industry.
“A major challenge that we’ve been confronted with is how to develop the oil and gas industry with optimum local content and participation, enhance national development and create jobs. We resolved that the involvement of Ghanaians in the exploitation of oil and gas resources could be achieved through mandatory local content in all aspects of petroleum activities.”