Business News of Saturday, 31 March 2018
The Africa Centre for Energy Policy (ACEP) has cautioned government against any potential distortions in power supply due to the planned shutdown of the FPSO Kwame Nkrumah later this year.
The energy think tank argues that failure to contain the situation could lead to a power crisis which will discomfort consumers.
Operators of the Jubilee fields have announced a shutdown in May for some repair works on the turret bearing.
Speaking to Citi Business News on the matter, the Head of Programs at ACEP, Alhassan Iddrisu called on government to effectively carry out all outlined plans to ensure that Ghanaians enjoy uninterrupted power during the shutdown of the FPSO.
“I think that our production capacity makes us a bit comfortable. We generate more than we currently need, so we don’t expect any power shortage during the shutdown, seeing that the Ministry of Energy has put in place measures to forestall any occurrence of shortage in power supply. But we cannot relapse in our efforts. We call on government to marshal resources to ensure that the shutdown of the FPSO Kwame Nkrumah is handled effectively.”
Alhassan Iddrisu has meanwhile called on Government to increase the level of investment of Ghana’s oil revenue into key areas like health, agriculture and education.
According to him, this will help bridge the widening inequality gap in the country.
The latest Ghana Poverty and Inequality Report indicates that despite the gains made in reducing poverty, inequality continues to increase.
In an interview with Citi Business News, Alhassan Iddrisu stated that it was the responsibility of the government to lead efforts at lifting Ghanaians out of poverty.
“We have been advocating for investment of oil revenue in pro-poor sectors, like education, health and agriculture. Because we think that these types of investments have a wider effect on the poor, the vulnerable and the marginalized. Once we continue to invest in these sectors we’re sure we’re bringing everyone along, the privileged and those who are less privileged. .”
Alhassan Iddrisu was speaking on the sidelines of a stakeholder engagement forum, on the theme “Addressing inequality in Ghana through equitable fiscal policies of government and harmonized national identification system.
The program saw presentations on topics like “Using a harmonized national identification system to address inequality” and “Addressing inequality through government fiscal policies.”