Ghana is not all that Gold like we think. Ghana is a very poor country and corrupt country both in human and material resources. Ghana has been mismanaged in the last 50 years like Nigeria untill about just 5 years ago that Ghana started showing very small sign of improvement by conducting good elections. Ghana is still a very corrupt and poor country. Ghana produced cocoa and Gold for 50 years and yet nothing to show for it today. Check the follwing facts below because the is no camparisons between the two country. It is too lopsided.
(1) Ghana GDP (Total Worth of Ghana) in purchasing power is 30 -35 billion dollars
(2) Nigeria GDP (Total Worth of Nigeria) in purchasing power 350 billion - 400 billion Dollars
(3)Kano State, Rivers Rivers, Lagos State, Ogun State, Anambra, Abia State, Delta State,Bayela tate, Oyo State each has a bigger economy each than Ghana.
(4) Ghana has been producing Cocoa and gold for 50 years and yet nothing to show for it for over 50 years. corruption is is endemic in Ghana despite their showing good face and conducting good election. Corruption is a big problem in Ghana, Example is the recent world cup Tournamant in South Africa, when Ghananian Players did quite well, but as they came back to Ghana, corrupt officials in Ghananian Football Association stole the world cup players money (fees) and some of the players have not been paid till today, and Ghana footbal body has been suspened by the Government, and investigation is on going and FIFA has suspended Ghana from International competition for corrupt practices. Corruption in official circle is a common everyday thing in Ghana just like in Nigeria and all African countries.
(5) Ghana will be producing about two hundred thousans barrells of oil in about two years if they are lucky, but then Ghana has to be given quotas by OPEC and international oil cartel politics and Ghana may be able to sell only half of that. For example Nigeria can produce 5 million barrels of oil a day now, but because of OPEC quotas and international oil cartel politics Nigeria can only sell half of that and 2.5 million barrels in the world market today in the world market.
(6) If Nigeria, Ghana, Angola, Sudan and all these African countries that produces oil do not follow OPEC Quotas and Internationl Oil Cartel Mafias politics their oil can becaome useless, because no body will buy it. The reason is that Saudi Arabia can produce and flood the world with 10 million barrels a day, Iran can produce and flood the world with 10 million barrels a day, Russia Can produce and flood the world with 10 million barrels a day, Kuwait can produce 10 million barrells a day, Venezuela and all the Middle East countries can flood the world market with oil and sell them for only 10 dollars a barrels and they will still make their money, but the poor countries in oil business will become useless.
(7)But because of OPEC quotas and the International oil politcs every country is given a quotas so that they will be stability in oil production and international oil market so that every country will get something based on their production level instead of oil war that will destroy less powerful oil producing countries. OPEC and the International oil politics is like price control agency.
(8) It will take Ghana about 30 years years to repay the oil investment by international oil investors in Ghana now before Ghana can even come close to Nigeria as an oil producing country, because Nigeria oil fields took 50 years to discover and to get to this level.
(9) Ghana population is about 25 million people and Nigeria population is about 170 million people.
(1) Ghana cannot compare to Nigeria in any tangible thing now or in the near future, yes the y have been conducting good elections and thats its for a small poor country.
Africa Today
If Nigeria collapsed in similar manner, and its own graduates had to shine shoes or panhandle in Lome, as Ghanaian ones did..." - "Mr. Seyi Olu Awofeso" awofeso@mwebafrica.com
Uhm!
Are our "own Nigerian graduates", professionals, former lecturers and even a number of senior directors and bank managers not already doing same (or even worse) in Atlanta, Baltimore, Houston, New York, Philadelphia, Washington DC, today - driving taxi cabs, doing janitorial work, meguards, and washing dead bodies...even in places like Cairo, Tripoli, Johannesburg and maybe Accra and Lome already?
How much PROOF do we still need that the "Giant of Africa" has already been brought to its knees - even if most of us refuse to recognize this FACT, and that it is merely "a thorough-going illusion that keeps Nigeria in recklessness - that the oil in Nigeria is infinite and the world will rather stump up bail-out cash than risk Nigeria's inevitable collapse at its current form..?" - "Mr. Seyi Olu Awofeso" awofeso@mwebafrica.com
When we are actually virtually on the brink of COLLAPSE and major NATIONAL DISASTER!
Dr. Valentine Ojo
Tall Timbers, MD
On Wed 12/15/10 2:24 PM , "Mr. Seyi Olu Awofeso" awofeso@mwebafrica.com sent:
Uhm!
Are our "own Nigerian graduates", professionals, former lecturers and even a number of senior directors and bank managers not already doing same (or even worse) in Atlanta, Baltimore, Houston, New York, Philadelphia, Washington DC, today - driving taxi cabs, doing janitorial work, meguards, and washing dead bodies...even in places like Cairo, Tripoli, Johannesburg and maybe Accra and Lome already?
How much PROOF do we still need that the "Giant of Africa" has already been brought to its knees - even if most of us refuse to recognize this FACT, and that it is merely "a thorough-going illusion that keeps Nigeria in recklessness - that the oil in Nigeria is infinite and the world will rather stump up bail-out cash than risk Nigeria's inevitable collapse at its current form..?" - "Mr. Seyi Olu Awofeso" awofeso@mwebafrica.com
When we are actually virtually on the brink of COLLAPSE and major NATIONAL DISASTER!
Dr. Valentine Ojo
Tall Timbers, MD
On Wed 12/15/10 2:24 PM , "Mr. Seyi Olu Awofeso" awofeso@mwebafrica.com sent:
Dear Collins,I agree with you on all points. I can only add that the wrenching poverty of famine that Ghana suffered in the 1970s will hardly allow the people to accept a looting dictator in future. If Nigeria collapsed in similar manner, and its own graduates had to shine shoes or panhandle in Lome, as Ghanaian ones did, all philosophies against looting in Nigeria shall have been fully learned; never to be forgotten. But a thorough-going illusion keeps Nigeria in recklessness still - that the oil in Nigeria is infinite and the world will rather stump up bail-out cash than risk Nigeria's inevitable collapse at its current form.Seyi----- Original Message -----From: COLLINS EZEBUIHETo: nigeria360@yahoogroups.com ; newnaijapolitics@yahoogroups.com ; Imo Forum ; nigerianworldforum@yahoogroups.comSent: Wednesday, December 15, 2010 7:52 PMSubject: RE: [Nigeria360::Live] Ghana starts Crude Oil Production [2 Attachments]Dear Seyi:
As long as Ghanains continue to live a modest life, they will have little
or no problems with their Oil. But if they are tempted to live large like Nigerians,
the "Oli curse" will surely set in, and corruption and its offsprings might actually be
worse there than it is in Nigeria.
In the case of the same Ghana, it is just a big State named a nation by Britain. Therefore,
it will be easy for a Dictator to put all Ghanains in his side pocket, and their much talked about
unity will become casualty! I hope not.
Ndewo.
Collins Ezebuihe.
To: nigeria360@yahoogroups.com; NewnaijaPolitics@yahoogroups.com
From: awofeso@mwebafrica.com
Date: Wed, 15 Dec 2010 14:28:54 +0100
Subject: [Nigeria360::Live] Ghana starts Crude Oil Production
Ghana begins pumping oil for first time
Ghana's offshore oil fields are estimated to contain about 3bn barrels
The West African nation of Ghana has begun to pump its first commercial oil after the discovery of the offshore Jubilee Field three years ago.
President John Atta Mills turned on the valve at an offshore platform.
A consortium led by UK-based Tullow Oil hopes to produce 55,000 barrels per day, increasing to 120,000 barrels in six months.
Ghana, one of Africa's most stable countries, is expected to earn $400m (£254m) in the first year.
Wearing safety gear and blue overalls, the president opened the valve in a televised ceremony some 60km (40 miles) off the coast from the town of Takoradi, Reuters news agency reports.
The discovery of oil off Ghana's coast has raised questions about whether Ghana can escape the "resource curse", where discoveries of valuable commodities fuel conflict and corruption instead of funding development.
Analysts have raised concerns about the lack of laws to manage oil revenue and the lack of an independent regulator for the sector.
The government has said it is working to get an oil bill passed.
The government has forecast that the oil will boost Ghana's economic growth rate from 5% this year to as much as 12% next year.
Production is eventually expected to bring in $1bn a year.
The Jubilee Field is estimated to hold 1.5bn barrels of oil. A second offshore field was discovered in September that is believed to hold another 1.4bn barrels.
The fields are some of the largest oil deposits found in recent years.
Learning from mistakes Observers say militant insurgency like that in nearby Nigeria's Niger Delta is unlikely as long as the government manages expectations.
Analysis
David Amanor BBC News, AccraIt is a momentous day for Ghana - barely three years after that first vial of oil was presented to former President John Kufour.
Hopes are high, tempered by a fair amount of realism - most people seem to understand oil production is unlikely in itself to bring about lower fuel prices and that it will take time for real benefits to accrue.
The government is currently negotiating huge multi-billion dollar loans for infrastructure developments, using oil as collateral, which has met with some stiff opposition from the parliamentary minority and other civil society groups. "We've looked at the experiences of other countries and it has not been positive," says Mohammed Amin Adam of campaign group Publish What You Pay.
Other concerns are focussed on how the oil money is spent rather than when. "Politicians' decisions tend to be very short-term and short-sighted," says Kofi Bentil of Ghanaian think-tank Imani.
"Transparency to population is very important," said Stephen Hayes, head of the Corporate Council on Africa - a group of some 180 mainly US firms that invest in Africa.
"They also have a fairly transparent society compared to other countries dealing in oil - so they've got a better opportunity to get it right," he told the BBC's Focus on Africa.
He says lessons can be learnt from others' mistakes and points out that Ghana's economy is more diversified than other oil-producing countries in Africa. It earns billions from cocoa and gold.
"The oil revenues expected only represents 6% of their economy - compare that to Nigeria where oil revenue represents 92% of the economy or Angola where it's almost 100%," he said.
"It indicates they won't be dependent on oil revenue... and are in a far better position to manage it more wisely."
The BBC's David Amanor in the capital, Accra, says there a positive mood about the pumping of the country's first oil - and plenty of advice about how the revenue should be spent.
"I'm very much excited because maybe that will be able to solve some of problems for us," a lottery-ticket seller said.
"The first area should be education, secondly agriculture and thirdly health."
Another man said the move was a blessing for him and the country.Campaigners hope fishermen who may lose their livelihoods will be given other job opportunities
"It's going to benefit me so I'm really excited. I've completed school but I've not found any work to do - I hope oil will help me to get a job."
Our reporter says Ghana also has a growing civil society community which is anxious to ensure environmental and development considerations are given a voice in the area where the oil is being bumped.
"A lot of the fishermen are now moving away because of the oil rig - they cannot fish within a certain parameter," says Adwoa Bame from the Women's Initiative for Self-Empowerment group.
"The men go out and bring the fish to the fishmongers, who are normally women," she told the BBC.
"So we need to look at how we can develop programmes that can sustain these communities in terms of livelihoods."
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