The President of Ghana Prof. John Evans Atta Mills has ensured adequate transparency and accountability to the country’s new oil discovery.

He said the oil discovery would be utilized in transforming the country’s economy
from its over-dependence on primary raw materials to a diversified, prosperous 21st century industrial nation for accelerated job creation, better incomes and higher standard of living.

The President disclosed that he would soon present to Parliament an Oil and Gas Revenue Management Bill which would ensure transparency and commit the oil revenue to a shared growth fund to finance investment in human resources development.

In accordance with the Articles two and 36 clause 5 of the 1992 Constitution of Ghana, the President delivered his second State of the Nation`s address in Parliament dubbed “Partners in Vision”. The address touched on sports, economy, agriculture, security, education, health, youth development, housing and governance.


“My government is laying a foundation for an integrated aluminum industry based on bauxite, a petrol-chemical industry based on salt and natural gas, a fertilizer industry to give momentum to agro development, a slat-based industrial chemical industry for caustic soda as well as allied consumer products and exports based on oil and gas” he emphasized.


Touching on the economy the President said his government took bold and difficult measures to achieve the fiscal consolidation and macroeconomic stability currently been enjoyed by the country, adding that this enabled a credible “Arrears Clearance Strategy and avoided excessive pressure on current and future budgets”.

On the increasing rate of drug cases in the country, President Mills reiterated his government’s pledge to combat the menace in the country saying “Ghana will not allow herself to be made a subsidiary of the drug barons and their illegal activities. We do not also want to wake up every morning to screaming headlines in the newspapers and on the radio about the activities of the drug barons.”

On agriculture the President said an Agricultural Development and Investment Fund (ADIF) is being developed to promote rural financial intermediation and to establish an Agricultural Development Fund.

He showered praises to the recent performances from the Black Satellites for winning the FIFA under 20 World Cup, and also the Black Stars resilience at the just ended Africa Cup of Nations in Angola. Adding, he believed the Black Stars will not let the nation and the continent down at the 2010 World Cup in South Africa.