By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The High Street Journal
  • HOME
  • BUSINESS & ECONOMY
  • NEWS & UPDATES
  • WORK & CAREERS
    • THSJ Resources
  • LEGAL INSIGHTS
  • INNOVATION
  • OPINIONS
  • #STOPGALAMSEY
The High Street JournalThe High Street Journal
Search
  • HOME
  • BUSINESS & ECONOMY
  • NEWS & UPDATES
  • WORK & CAREERS
    • THSJ Resources
  • LEGAL INSIGHTS
  • INNOVATION
  • OPINIONS
  • #STOPGALAMSEY
Follow US
© 2024 | The High Street Journal. All Rights Reserved.
News

Western Regional Minister Urges Petroleum Stakeholders to Channel Oil Gains into Local Economic Growth

Western Regional Minister Joseph Nelson has urged Ghana’s petroleum stakeholders to ensure oil revenues drive local economic growth, job creation, and community development through stronger local content, innovation, and environmental sustainability initiatives.

Stanley Senya
Nov 4, 2025

Western Regional Minister Joseph Nelson, has called on stakeholders in Ghana’s petroleum industry to ensure that the country’s oil and gas wealth directly benefits local communities and translates into sustainable regional development.

Speaking at the opening of the 2025 Local Content Conference and Exhibition (LCCE), the minister said Ghana’s petroleum sector remains central to the country’s industrial future, but its true impact will only be realized when local communities experience tangible improvements in livelihoods and economic opportunities.

“The benefits of petroleum development must translate into real, lasting improvements in local livelihoods and community well-being,” Nelson said. 

“This is why platforms like the LCCE are critical, they allow us to reflect, evaluate, and renew our collective commitment to inclusive local content and sustainable regional growth.”

Nelson emphasised that revitalising petroleum exploration and production is not just an industrial goal but a regional economic priority.

READ ALSO

Clear Communication Critical to Prevent Misconceptions Around Government’s New Economy Agenda
Poultry and Garments Become the 2027 Budget’s Test of Import Substitution
Ghana Warns of Phishing Attacks After Microsoft Outage

“The Western Region hosts Ghana’s major oil infrastructure from ports and fabrication yards to supply bases employing thousands of workers,” he said.

“When the sector thrives, its impact resonates across local economies, strengthening communities, expanding opportunities, and reinforcing shared prosperity.”

He noted that Ghana’s Local Content and Local Participation Regulations, 2013 (L.I. 2204) had significantly improved the participation of Ghanaian companies in the petroleum value chain from catering and logistics to construction, fabrication, and environmental services.

However, he urged stakeholders to expand the scope of local content beyond contracts and procurement to include human capital development, research, and community empowerment.

“Local content must mean local empowerment the growth of businesses, the strengthening of institutions, and the upliftment of the communities on whose lands and in whose waters petroleum is produced,” Nelson stressed.

The Regional Minister encouraged industry players to strengthen partnerships with technical universities and research institutions to promote innovation, skills development, and technology transfer.

He said the Western Regional Coordinating Council (WRCC), in partnership with the Petroleum Commission, had intensified community engagement mechanisms to ensure that host communities are properly informed and consulted through Social Investment Programmes (SIPs).

“We are also working closely with the Environmental Protection Agency (EPA) and local assemblies to monitor environmental compliance and uphold the highest standards of safety and sustainability,” he added.

Nelson urged all companies operating in the region to prioritise environmental protection, invest in community development, and maintain open communication channels with local authorities.

Since the discovery of oil in the Jubilee Field in 2007, followed by the TEN and Sankofa-Gye Nyame projects, the Western Region has become the epicentre of Ghana’s energy transformation.

Yet, Nelson warned that for the sector’s success to endure, its benefits must be more evenly distributed across local economies.

He commended the Petroleum Commission for institutionalising the annual Local Content Conference, describing it as a valuable forum for policy innovation and business collaboration.

Engineer Austin Uzoka, Senior Advisor at Nigeria’s Local Content and Monitoring Board, also urged Ghana to see local content as a competitive economic tool rather than a form of nationalisation.

“Local content should act as a catalyst to reduce capital flight by creating a reliable and competitive supply chain,” he said. “It must enable locals to own key assets that influence procurement decisions.”

He called for stronger partnerships between government, industry, and academia to develop strategic skills that prepare local firms to compete globally.

The 2025 LCCE is expected to focus on investment opportunities, local content policy reforms, and innovation, featuring panel discussions, exhibitions, and executive networking sessions aimed at driving a more competitive and inclusive energy economy.

Share this:

  • Share on X (Opens in new window) X
  • Share on Facebook (Opens in new window) Facebook

Like this:

Like Loading…

Related

Subscribe to Our Newsletter
Subscribe to our newsletter to get our newest articles instantly!
[mc4wp_form]
Share This Article
Facebook Whatsapp Whatsapp LinkedIn Email
Previous Article Ministry of Trade Backs Chinese Investment in Waste-to-Energy Project Ministry of Trade Backs Chinese Investment in Waste-to-Energy Project
Next Article Wellness Takes Centre Stage as CIB Ghana Opens 2025 Bankers’ Week with ‘Sports for Life’ Wellness Takes Centre Stage as CIB Ghana Opens 2025 Bankers’ Week with ‘Sports for Life’
- Sponsored Content -
Ad imageAd image

LATEST NEWS

Ghana: West Africa's Troubling Outlier for Banking Sector Bad Loans
Tackling Inflation at Its Roots: How Budget Infrastructure and Farm Investments Could Sustain Low Prices
Business & Economy
Lower Fuel Prices Expected At Pumps From Monday
Lower Fuel Prices Expected At Pumps From Monday
Business & Economy
DDEP Design Was Likely to End in Another Default, But Thanks to Govt’s Sinking Fund – Economist Says
DDEP Design Was Likely to End in Another Default, But Thanks to Govt’s Sinking Fund – Economist Says
Business & Economy
Oppong Nkrumah Charges Fiscal Council to Investigate Fiscal Inconsistencies in 2027 Budget
Oppong Nkrumah Charges Fiscal Council to Investigate Fiscal Inconsistencies in 2027 Budget
Business & Economy
Why the $10Bn New Economy Programme of Government is Not Believable – Minority's Analysis
Why the $10Bn New Economy Programme of Government is Not Believable – Minority’s Analysis
Business & Economy

You May Also Like

The Abuse of Cedi Notes & Coins: How Replacement is Bleeding BoG Annually

Analyst Justifies Feasibility of Mahama’s Nuisance Tax Agenda

Commercial Farming Partnerships to Target New Jobs for Young Workers

Commercial Farming Partnerships to Target New Jobs for Young Workers

Without Community Incentives, Forestry Programmes Will Continue to Fail — Dr. Ackah

Galamsey Has Destroyed Ecosystems; Reforestation Must Now Restore Wildlife, Not Just Trees — Dr. Ackah

Extractive Sector Indigenization Policy: Prez Mahama Assures of No Expropriation of Existing Leases

Prez. Mahama Pushes for Law to Criminalize Cocoa Farm Destruction for Mining

Accra Takes All the Enjoyment: 85% of Tourism Events Centered in the Capital, Leaving Out Rest of Ghana

Accra Takes All the Enjoyment: 85% of Tourism Events Centered in the Capital, Leaving Out Rest of Ghana

BoG Forex Intervention Hits $1.4bn in Q1 as Cedi Rallies to Global Top Performer

Bank of Central African States Joins PAPSS Network, Expanding Reach

Bank of Central African States Joins PAPSS Network, Expanding Reach 

Social Media, Powerhouse for Music Promotion- How Social Media Platforms Boosting Latest Stonebwoy Song

The High Street Journal

About Us

Delivering focused and insightful business perspectives; impacting lives.

Email: [email protected]

Useful Links

  • About
  • AI Strategy & Policy
  • Advertise
  • User Policy
  • Be a Guest Author
  • Contact Us
  • Sitemap

Stay Connected

© 2026 | The High Street Journal. All Rights Reserved.

%d