Pambazuka - Ghana's 2010 oil 'boom': Ensuring public interest over private gain

Ghana is on the precipice of an oil 'boom'. The nation’s anticipated oil production begins this year, 2010. And along with the production, the public’s high expectations from oil wealth, in addition to the potential threats that come with this oil 'boom'. Even as we remain optimistic, we should not underestimate the potential dangers of our new circumstances to our democracy, national unity and our nation’s socio-political security. There sure are no greater exigencies now than laying strong foundations for transparency and accountability, both in the preparatory stage and the eventual management of our oil wealth.

Disputes related to natural resources have exacted a toll on far too many African societies, turning the dreams of national prosperity that come with the discovery of such natural resources into perpetual nightmares. Consequently, these disputes have resulted in violent conflicts, environmental destruction, corruption, untold human hardship, displacements and a devastated future for entire communities. This sad but true reality causes even the most exuberant optimist to wonder if the discovery of oil in one’s country should be a cause of jubilation or trepidation. I am cautiously optimistic about Ghana, that the nation will take full advantage of the positive and negative lessons from others to ensure transparency and accountability as oil production begins.

This article is a contribution to Ghana’s determination to ensure a peaceful, productive and prosperous oil era. It outlines specific critical statutory, institutional, social and community strategies for ensuring transparency and accountability in the management of Ghana’s oil.

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tags: ghana, development