General News of Monday, 15 October 2018Source: The PresidencyFree SHS ensuring fair oil money use – Akufo-AddoPresident Nana Addo Dankwah Akufo-AddoPresident Nana Addo Dankwa Akufo-Addo says his administration is using the country’s oil revenues to create assets, and not waste it on consumption and the accumulation of debt. According to President Akufo-Addo, “we are investing revenues from oil in one of the most ambitious social programmes of our country’s history, i.e. In the 2018 budget, GH¢455.9 million of petroleum revenues was allocated to the Free SHS programme.”The President stressed that “Free SHS is ensuring that our oil revenues are being equitably distributed to our people, and not ending up in the pockets of a few. Government, he added, has launched the Accelerated Oil and Gas Capacity (AOGC) Programme, which is empowering local firms to play progressively active roles in the oil and gas value chain through capacity development, and financing and partnership support. Laws such as the Petroleum Exploration and Production (Data Management) Regulations 2017, LI 2257, the Petroleum Exploration and Production (Health, Safety and Environment) Regulations 2017, LI 2258, and the General Petroleum Regulations, he said, have also been passed.

Source: GhanaWeb October 15, 2018 15:00 UTC