President John Dramani Mahama has urged the petroleum industry to create more opportunities for indigenous businesses and local workers to take leading roles in Ghana’s upstream operations, calling on international oil companies, financial institutions and academic institutions to establish clear pathways for local participation.
Speaking at the Petroleum Commission’s Local Content Conference in Takoradi, President Mahama said foreign investment in the energy sector should translate into measurable gains for Ghanaian businesses and workers.
Moving Beyond Ownership to Skill and Technology Transfer
While emphasizing that equity ownership remains a core pillar of local content regulation, the President stressed that government focus must now expand to domestic technical execution, technology transfer, and long-term capacity building.
To bridge existing operational gaps, President Mahama directed upstream operators to provide qualified local suppliers with early visibility of upcoming procurement pipelines and to embed mandatory training modules within their supply chain partnerships.
A Call to Financial Institutions and Academia
Addressing structural bottlenecks that hinder indigenous firms from competing for high-value contracts, President Mahama urged Ghanaian commercial banks and financial institutions to provide tailored credit facilities and financing solutions to credible local suppliers.
He also urged universities, technical institutions and professional bodies to tailor their programmes to the changing needs of the petroleum industry, equipping young Ghanaians, particularly those in the Western Region, with the skills required to move into technical roles across the sector.
Regulatory Standards and Ecosystem Commitments
The President assured investors of a stable and transparent business environment, while charging the Petroleum Commission to strictly enforce compliance with health, safety, environmental protection, and local participation targets as field development accelerates.
President Mahama challenged conference participants to translate their discussions into practical commitments, including joint ventures, procurement opportunities for local firms and technical training partnerships, before the conference ends.
