President John Dramani Mahama has pledged to restore life to the economy of the Western Region.
Delivering the State of the Nation Address in Parliament today, President Mahama said there is a decline in upstream activities within the Twin City.
This, he said, has contributed to the shutdown of facilities and many businesses leaving the region and the country at large.
President Mahama also underscored the increasing number of unemployed youth and promised to breathe life back into the oil and gas sector.
He said, “Ghana’s petroleum sector has witnessed a precipitous decline, with crude oil production shrinking by more than 32%. This has resulted from high opacity levels, a hostile business climate, and excessive political interference, culminating in most major oil companies exiting and stalling upstream activities.”
President Mahama added that, “The decline in upstream activity is obvious to any person familiar with the twin cities of Sekondi-Takoradi. Just under a decade ago, the twin cities were the bustling epicentre of fabrication, logistics, and service activity associated with the upstream oil and gas sector. Unfortunately, my recent visit reveals many shut down facilities and many businesses that have packed and left.
Hundreds of workers have been laid off and left unemployed. I wish to assure the people of Sekondi-Takoradi and indeed the whole Western Region that we will breathe life back into the area.
