John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has criticized the current New Patriotic Party (NPP) government for damaging investor confidence in the energy sector through what he describes as a series of non-transparent deals.
Mahama contends that despite inheriting substantial oil revenues, the NPP’s mismanagement has brought the energy sector to the verge of collapse.
Speaking to key stakeholders in the petroleum industry in Accra on Friday, Mahama pledged to revitalize the sector if elected into office.
“Crude oil production has dropped by over 30%, and regulatory failures, such as the ENI unitisation dispute, have harmed our international reputation as an oil and gas nation,” Mahama stated.
He further pointed to corruption scandals that have weakened the sector’s credibility, saying, “Corruption scandals like the sale of contaminated fuel and the lease of TOR to Torentco under opaque circumstances have further eroded investor confidence in the sector.”
Mahama also expressed concern over the exodus of major oil companies from Ghana, stating, “It is sad to know that most of the major oil companies are abandoning Ghana and are relocating to our neighbour Côte d’Ivoire.”
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