Ghana’s Upstream Local Content Policy Lauded | General News

Three coun­tries — Nigeria, Namibia and Uganda— have applauded Ghana’s robust drive to enhance and optimise local content policies in the upstream petroleum industry for the benefit of citizens.

Additionally, they celebrated the country’s achievement in the pro­motion of local content agenda, which is inspiring Africa’s efforts to harness its potential in the hydrocarbon fields.

Representatives of the countries expressed these views in separate solidarity messages delivered at the 2024 Local Content Con­ference and Exhibition (LCCE) which ends today in Takoradi, in the Western Region.

Organised by the Petroleum Commission, the three-day event was on the theme “Attracting ex­ploration and production invest­ments to boost local content-New pathways.”

“The significant strides Ghana has made in empowering local industries and ensuring that the benefits of your country’s natural resources directly contribute to the socio-economic development of your people are truly inspir­ing,” she said.

Ms Shino said, Ghana’s vision­ary approach in building local capacity within the petroleum sector was a powerful example for the entire African continent.

He noted the country’s success in fostering an environment for Ghanaian businesses and profes­sionals to play a central role in the development of oil and gas resources.

This feat, she said, was a remarkable achievement that reflected both the strength of Ghana’s policies and the resilience of her people.

“This progress marks a critical step toward reducing dependen­cy on foreign expertise while simultaneously driving sustainable, inclusive growth and creating jobs that benefit local communities,” she said.

“At a time when many African nations, including Namibia, are seeking to enhance the impact of their natural resource sectors on their local economies, Ghana’s ac­complishments provide invaluable lessons. Namibia is committed to learning from Ghana’s experi­ences as we continue to develop our own petroleum industry,” Ms Shino reported.

The Executive Secretary, Nige­rian Content Development and Monitoring Board, Felix O. Ogbe, spoke about Nigeria’s desire to ce­ment relationship between Nigeria and Ghana’s Petroleum Commis­sion through the landmark signing of Memorandum of Understand­ing (MOU).

He was delighted to witness the collective efforts of African countries towards enhancing local content in the upstream petro­leum industry.

Mr Ogbe added, “This event is a testament to our unwavering commitment to fostering strategic partnerships and driving sustain­able growth within our sector.”

The theme of LCCE, he said, underscored the need for innova­tive approaches and collaborative efforts to unlock the full potential of Africa’s hydrocarbon resourc­es estimated at over $125 billion and accounting for about 10 per cent of global reserves.

He suggested that Africa must encourage closer collaboration among African oil and gas service companies and the leveraging of their capabilities, “one of the best strategies to develop African local content and meet the aspirations of the African Continental Free Trade Area (AfCFTA).”

The Chief Executive of the Ugandan National Oil Company, Proscovia Nabbanja, said despite gains in technology, Africa still grappled with using oil resources to support development, stressing “we need African solutions for Africa’s problems.”