Ghana not attractive to oil investors globally – Ben Boakye

Ben Boakye, Executive Director of the Africa Center for Energy Policy (ACEP), has raised concerns over Ghana’s declining oil production.

The 2023 Public Interest and Accountability Committee (PIAC) report shows a fourth consecutive year of decreased output, dropping from 71.44 million barrels in 2019 to 48.25 million barrels in 2023, an average annual decline of 9.2%.

Boakye has attributed this decline to Ghana's lack of attractiveness to global investors and insufficient government incentives for local producers.

He emphasized the need for strategic investments and cited Cote D’Ivoire’s success in attracting investments despite global constraints.