Akufo-Addo Confirms Receiving More Oil Money Than Any Other President

with the drilling of six oil wells in just three years

President Akufo-Addo has finally confirmed observations that he is the President in the lineage of Fourth Republican Heads of State, who has received more money from oil.

Presenting the 2020 State of the Nation Address in Parliament today, the President said six oil wells have been successfully drilled in the three years that he has been at the helm, as against none that was successfully drilled under former President John Mahama.

“We have also implemented a change from the opaque allocation of Ghana’s oil blocks to a more transparent allocation process, and advisedly so. The opaque period, 2013 to 2016, saw, according to the Ministry of Energy, the signature of thirteen (13) petroleum agreements, from which fourteen (14) wells were to be drilled. Not a single well was drilled. In contrast, in my time, over the last three (3) years, there have been six (6) drilling campaigns on three (3) different blocks, with others on the way. We will drill more and find more oil,” the President said.

According to the President, the development is a mark of superior competence on the part of his administration and better transparency compared to the previous administration.

The revelation is very likely to spike questions again as to what his government has used the plentiful oil money for.

According to the President, the development is a benefit from transparent accounting by his government in respect of the oil sector which is different from opacity that characterized the sector under his predecessor.

The President also said his administration has strengthened all accountability institutions of State and is prosecuting a number of corruption suspects.

“Mr. Speaker, we have made significant strides over the last three years in our fight against corruption, despite the scepticism of people with questionable records. We have strengthened the legal framework to fight corruption, with the help of this House, by passing into law the Witness Protection Act, 2018 (Act 959), the Office of the Special Prosecutor Act, 2018 (Act 959), the Right to Information (RTI) Act, 2019 (Act 989), and the Companies Act, 2019, (Act 992), which provides a framework for enacting a beneficial ownership register.

“Government has increased budgetary allocations to all the accountability institutions of State, including the Parliament of Ghana, the Judiciary, CHRAJ, EOCO, the Office of the Attorney-General and Ministry of Justice, the Auditor General, the Office of the Special Prosecutor and the Ghana Police Service with annual increases  between 25% and 34% between 2017 and 2019.

Some forty or more (40) high profile personalities are currently before the courts on various corruption charges and more are in the pipeline. I will like to repeat that if evidence of corruption is presented, no one will be spared, regardless of position or political affiliation. No one is above the law. That is the true meaning of equality before the law.”

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