Energy Expert Benjamine Nsiah is calling for a major shift in Ghana’s petroleum downstream strategy, urging the country to process most of it is crude locally to meet domestic demand.
Speaking with Isaac Addae on The Verdict on Starr FM on 11 August , Mr. Nsiah said the new approach should prioritize the processing of Ghana’s crude oil locally rather than relying heavily on imported petroleum products.
According to him, Ghana’s petroleum policy must move away from import- dependent approach and place greater emphasis on locally production and processing.
He said it would require a deliberate effort to strengthen the country’s refining capacity, including the revamping of existing refineries
“Very conservative in terms of production or processing most of your crude locally to secure your local market” he said
Mr Nsiah argued that changing the policy direction should also inform strategies for revamping Ghana’s refineries and creating the conditions needed to attract investment into downstream petroleum sector.
He said Ghana could also develop a competitive policy and foreign investment framework capable of attracting immediate investment support the sector.
The Energy Expert maintained that the shift towards local processing should form the basis of Ghana’s strategy for strengthening the petroleum downstream industry and meeting the needs of the domestic market.
Source: Starrfm.com.gh
