President John Dramani Mahama has pledged to revitalise the economy of Sekondi-Takoradi and the Western Region, following the mass layoffs and business closures that have hit the area due to the decline in Ghana’s petroleum sector.
Speaking during his State of the Nation Address on Thursday, February 27, Mahama acknowledged the devastating impact of reduced upstream oil and gas activity on the twin cities, which were once a hub for fabrication, logistics, and related services.
“Hundreds of workers have been laid off and left unemployed. I wish to assure the people of Sekondi-Takoradi and indeed the whole Western Region that we will breathe life back into the area,” he stated.
He attributed the downturn to excessive political interference, a hostile business environment, and the exit of major oil companies, which have stalled upstream activities and led to a 32% decline in crude oil production.
The president, however, assured Ghanaians that his administration has begun efforts to restore investor confidence and create a more business-friendly environment in the petroleum sector.
“My meetings with players in the upstream sector have been extremely positive, and we have been assured of substantial investments running into billions of dollars in the very near future,” Mahama disclosed.
He reiterated his commitment to reversing the economic downturn in the Western Region and ensuring job creation for the many who have been affected by the industry’s decline.
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