How Dormaahene ‘Confronted’ Bawumia Over Ghana’s Oil And Gold Exploration

The Dormaahene, Osagyefo Oseadeeyo Agyemang Badu II, broke protocol during a speech at the Annual Convention of the Council of Bono, Bono East and Ahafo Associations of Continental North America (COBAANA), to express some of the misgivings he had to Dr Mahamudu Bawumia.

Osagyefo Badu II could not hold his displeasure at how Ghana gets only a little share of the proceeds from the exploration of oil and gold in the country.

He questioned Vice President Dr Bawumia on why Ghana was getting only 7 per cent of the proceeds from Ghana’s gold resources and only 17 per cent from its oil resources.

“His Excellence, how is it that we have our Gold but we get only 7 per cent of the proceeds from it? will the remaining 93 per cent go to foreigners?

“It is not only that His Excellency, Nigeria and Equatorial Guinea get 51 per cent of their oil explorations… why is that in Ghana we get only 17 per cent? Why is that we get only 17 per cent, His Excellence?” he asked Dr Bawumia.

The Dormaahene added that if Ghana was getting what it deserves from its natural resources, it will not need the $3 billion International Monetary Funds (IMF) bailout which comes with all kinds of restrictions.

He urged the vice president to confer with President Nana Addo Dankwa Akufo-Addo and his cabinet to come up with ways to ensure that Ghana gets the most from its resources.