An important test of progress in the world today is extent of energy - petroleum and electricity used per capita in any country. The higher the energy resource used, the more developed the country tends to be. It is no wonder then that Ghana has not developed to our expectation over the past three decades. We believe that one of the critical reasons is our movement from being a net exporter to a net importer of power.

Our vision in the energy sector ties out productivity to the national vision. President Kuffour's coordinated social and economic programmes presented to Parliament last year included a goal for Ghana to become a middle-income country with a per capita income US$1,000. The nation's ability to meet and exceed this goal will depend largely on the performance of the energy sector.

In the medium term, it is the aim of the NPP Government to sustain growth though sound programmes of action under the Ghana Poverty Reduction Strategy (GPRS). The priority areas of the GPRS need a boost from energy to produce positive results. President Kuffour announced his plan to shepherd Ghana into a Golden Age of Business. The Golden Age requires the private sector to function as the engine of growth.

It is only abundant and relatively cheap energy that will provide the fuel to power the private sector engine. Our point here today is that the public and private sectors in Ghana must pay particular attention to the energy sector if the Ghanaian economy is to grow to the extent that will allow the average Ghanaian to achieve an appreciable level of micro level prosperity.

Mechanized agriculture requires fuel to work. ICT and any kind of advanced technology depend on sustained and reliable electricity and other energy resources. Industry needs appropriately cost effective fuel and power to be profitable. The internet revolution was developed on the back of abundant, cost effective, reliable energy. The media cannot disseminate information effectively without power. Will all of this in mind, the Ministry of Energy has carefully, crafted the vision to overcome our current challenges, supply the domestic demand and lead Ghana to become a net exporter of power and fuel in five years.

We will do this by working diligently on four objectives:

• Make the sector and its agencies more efficient
• Reduce the sector's demand on the national budget
• Provide an enabling environment for private sector participation and investment in energy and
• Strengthen the regulatory framework for healthy competition and quality assurance.

 

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