Govt’s greed & state capture have driven away vital investments from oil & gas industry – Kwakye Ofosu

Former Deputy Minister of Information, Felix Kwakye Ofosu, has criticized the Akufo-Addo/Bawumia administration, attributing declining oil and gas investments and production to government corruption, greed, and state capture.

He noted that no new oil wells have been developed in eight years, and Ghana recently lost a $915 million case against ENI.

The International Arbitration Tribunal dismissed ENI and Vitol's monetary claims but found Ghana breached a Petroleum Agreement.

The Minority urged the government to avoid actions that lead to lawsuits, calling for amicable resolutions in the oil sector to prevent further losses.