Ghana must take full control of its natural resources – Economist
By: Solomon Nartey Tetteh
Development economist Dr. Felix Larry Essilfie has called on Ghana to take full control of its natural resources as a critical step toward sustainable national development.
Speaking on the Business Breakfast Show on Zed 101.9FM, Dr. Essilfie argued that no country, particularly in Africa, has been able to achieve real development without asserting ownership and control over its natural wealth.
According to him, while technological advancements and groundbreaking inventions are transforming economies across the globe, Ghana lacks the capacity to compete in that space.
“We simply do not have the technological infrastructure to match global innovation. What we do have, and what we have always had, are abundant natural resources. But since independence, we have failed to fully harness and manage these resources to our advantage. That’s why we remain poor as a country,” he said.
Dr. Essilfie supported the idea of tightening systems that make it harder to exploit loopholes in trade and resource management, saying such reforms would ultimately benefit the nation.
“If structures are being put in place that make it difficult for people to conduct shady business, that’s a good thing,” he stated.
The economist expressed concern, however, that some Ghanaians may be uncomfortable with reforms aimed at enforcing transparency.
“The people who are excited when systems are weak, I fear for them. Because when proper systems are introduced, and transparency becomes the norm, the ordinary Ghanaian tends to resist it,” he stated.
Dr. Essilfie criticized the culture of awarding government projects and contracts to individuals who may lack the competence to deliver, suggesting this stems from a desire for unchecked power. “The Ghanaian in charge often wants to dictate who benefits and who doesn’t. That mindset is not only selfish, it’s criminal,” he added.
