Oil Discovery: Let Us Not Neglect Agric

REPORTS AT the various web sites and by our two national dailies - The Times and Graphic - suggest that Ghana has hit yet oil in significant quantities in the Western Region this time by Tullow Oil Plc. The report came barely two months ago when another oil firm, Kosmos Energy announced that it had hit oil in large quantities at Cape Three Points in the Ahanta West District of the Western Region.

This is good news that all Ghanaians should be proud of since oil is now the engine that moves almost every economic activity in this global world. We will however like to caution here that the discovery of oil would not lead to instant solution of all our problems. You ask the Nigerians, Iraqis, Saudis and Venezuelans, among a host of other oil producing countries and they will tell you they have loads of problems still confronting them.

Besides this, is not the first time we are hearing that Ghana has hit oil. From Nkrumah to President Kufuor almost every government has announced the discovery of oil but we are yet to start production or being declared as one of the oil producing countries. As we stated earlier, we should not let Ghanaians believe that oil would solve all our problems. Nigeria for instance was one of the leading groundnut producers in the world but upon discovery of oil, the attention was shifted from that sector.

The Chronicle believes that if care is not taken, we may also be following the footsteps of the Nigerians by abandoning other sectors of the economy especially agriculture which employs the bulk of our population and be concentrating on oil. Though we are not oil producing country, there is already a heavy tax on oil imported into this country resulting in the high prices we are paying for the products.

Our concern is that if this oil discovery is not handled with care, the impression would be created out there that when we start production, prices of oil products would come down and that is where the danger lies.

Despite the huge oil deposit in Nigeria, that counry is still increasing prices of its oil products ay in and day out.

We on this paper will pray that oil discovery issue should not be turned into politics otherwise we will be laughing at the wrong side of our teeth in the near future.

Our economy is on the path to recovery therefore nothing should be done to thwart the success we have chalked through prudent economic management by the present government.

Ghanaians will certainly be ready to welcome the production of oil in the country but until then let us wait for the actual production of oil to start then we can start pooping our champagne. The agricultural sector, which seems to be nose-diving, should attract the attention of the government also irrespective of the oil alarm.

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