President Akufo-Addo has stressed the need for Ghana to add value to its natural resources, and not export raw materials to developed countries.
He said it is necessary for Guyana and Ghana to find ways of quickly harnessing their potential in hydrocarbon production.
Delivering the keynote address at the maiden International Energy Conference and Expo in Georgetown, Guyana, President Akufo-Addo urged the two countries to strike a careful balance between the socio-economic and environmental benefits of these resources.
The President touted the achievements of Ghana in the management of Oil and Gas Resources.
The Conference was attended by the Presidents of Guyana and Suriname, Prime Minister of Barbados, and CEO of ExxonMobil.
Touching on endowed nations in Africa failing to use their resources to develop their countries, President Akufo-Addo noted that Ghana has implemented a number of policies and initiatives to change the narrative.
These policies, he explained, are focused on ensuring sustainable growth of the sector through legislative development, employment creation, protection of the environment, revenue and cost management, transparency, diversification of the economy, capacity building, and local content development.
