President John Dramani Mahama says everything is set for Ghana to become the hub of petroleum in the West Africa sub-region.
According to him, considering the current operation and storage capacity of the Bulk Oil Storage and Transportation Company Limited (BOST) as well as the revamped Tema Oil Refinery (TOR), nothing can stop the country from exporting oil to its neighbours.
President Mahama made this comment when he addressed an estimated one thousand people comprising government officials, students and faculty heads of the University of Cape Coast.
The president spoke on the theme: Rising opportunities, entrepreneurship, and a changing Ghana.
BOST’s contract with neighbouring Cote D’Ivoire in which the Ghanaian company is expected to supply about 35, 000 of petroleum products is a good news, he said.
This he explained has helped to place the country “well on the way to a major petroleum distribution in the sub-region”.
He lauded the turn-around success story of TOR in which the then defunct company is now refinancing its debts and repairing its storage facilities for the resumption of petroleum storage and its related products.
President Mahama said this feat will giantly help the company to “recapture its glory days as envisioned by our founder, Dr. Kwame Nkrumah”.
One after the other, he recounted how the social intervention programmes put out by previous governments have helped the country fend off poverty and its related hardships.
He, however, did not mince words when he told the crowd that amongst all the projects undertaken in the country, those of his government stand tall.
The President said the Ghana cedi which has for the past months depreciated against major trading currencies like the US dollar is “stabilizing”.
He also explained since the start of 2016, his government has been living within its means by using internally generated funds for expenditure and the payment of debts.
Delving into the International Monetary Fund (IMF)’s programme with the country, President Mahama said he is committed to the “Zero percent borrowing from the Central Bank”.
Although he acknowledged many of government’s decisions come with some dire consequences, he thanked Ghanaians for standing solidly behind his government to lead the nation into the “society of prosperity”.
He implored the audience to support his second term bid so that he will be able to complete his “Agenda for Transformation” promise.