Ghanaian Oil Production; A look at the future prospects for the Ghanaian population, government and businesses

Abstract

Ghana started their oil production in 2010. I am looking at the prospects for the Ghanaian population into the future, what they may expect. With respect to African experiences with rich natural resources, we have seen several situations where they can get caught up in the resource curse. This have several reasons, and I have tried to look at some key factors and compare these with the current situation in Ghana with respect to aspects as politics, level of corruption, level of inequality, internal conflict in Ghana and the expectations of the people of Ghana. Ghana is a Nation located on the west coast of Africa, bordering to nations like Togo, Burkina Faso and the Ivory Coast. Other nations in this area are Nigeria, Liberia and Sierra Leone, which all has huge problem from the Resource Curse. I have made a simple applied model focusing on inequality and employment due to the strength of the government of Ghana, and the integrity of the producers of the Oil production. Further there is a small interview with a small local population in Ghana. I have looked at reasons for the resource curse, and the advantages Ghana holds compared with those other nations. We can clearly see from this thesis that Ghana has the possibilities of succeeding in their quest for economic growth, and that they have the tools needed, both political, with respect to their infrastructure and also the empiric from other nations struggles with the resource curse.