Ghana spends $US1.1 billion annually on oil importation

Accra, July 21, GNA- Ghana spends about 1.1 billion dollars annually on oil importation to cater for her domestic needs. Mr Andrew Awuni, Press Secretary to the President disclosed this on Saturday at a National Prayer and Thanksgiving service for the recent oil discovery in the country organised by Aglow International, a Christian organisation devoted to praying for Ghana each month. Mr. Awuni said the oil discovery would help strengthen the country's economy as it would reduce the pressure on the foreign exchange, adding that the cedi would ultimately be strengthened. " The oil discovery does not mean we will not buy oil but potentially we can save as a nation since the pressure on the cedi will be reduced which will lead to a stronger economy". He said.

Mr Awuni said plans were advanced for appraisals to be done on the oil discovery in August and that would be followed with more drilling on sites in October this year.

He said records indicated that the country started exploration for oil as far back as 1896 and that it was important Ghanaians to thank God for the discovery since that could help provide more jobs for them. Mrs. Georgina Wood, Chief Justice, Ghana said the oil discovery marked an important milestone in the history of the nation and that it was important for the country to learn from the past mistakes of other oil producing countries since that would help the revenue accrued from it to trickle down to the people.

Chief Justice Georgina Wood said Ghanaians should pray for those who would be entrusted with the oil, adding, "since God has a soft spot for the poor and the needy, anyone who does something wrong to them will surely incur the wrath of God".

She thanked Ghanaians for their prayers and support during her nomination as the first female Chief Justice in the country. Mama Dorothy Danso, National President, Aglow International, said 2007 marked a year of super natural blessings as Mrs Georgina Wood was nominated the first female chief justice, which was the preserve of men and the recent "significant" discovery of oil in the country.

She likened the Chief Justice to the Biblical Deborah who was full of wisdom, which attracted people to her for counsel and called on Ghanaians to forgive each other to move the nation forward. The service was a non-denominational one which attracted believers from the Methodist, Assemblies of God, Pentecost and other churches.