Ghana will be the loser at the end if no immediate measures are taken by government and the National Oil Company. Ghana National Petroleum Corporation (GNPC) to harness opportunities available for the country’s energy transition, Natural Resource Governance Institute (NRGI), has warned.
This came up during a virtual training programme organized by the Natural Resource Governance Institute in collaboration with the Africa Centre for Energy Policy (ACEP) for civil society organisations and the media on the subject matter.
The Africa Program Officer at NRGI, Dennis M. Gyeyir who gave the indication in a presentation on the Opportunities and Challenges available to Ghana in the Energy Transition matrix noted the time for the country act is now or risk losing out to the rest of the world in the unforeseeable future.
He emphasized the need for political will at the highest level since Energy transition is a governance issue whiles exercising positive interference in the affairs of the national Oil company, the (GNPC) for the national interest.
Mr Gyeyir also noted the need for GNPC to be open to engage all stakeholders in order to build consensus on a viable path for a workable energy transition agenda.
According to him, a multi-stakeholder approach involving government, private sector, think tanks, Civil, Non-Governmental Oganisations, academia and other identifiable groups is key to ensuring an effective energy transition that is timely, inclusive, sustainable, affordable and secure.
A recent research conducted by the Natural Resource Governance Institute on Energy Transition on newspapers and radio publications around the world cautioned against the dangers of business as usual by governments and national oil companies like GNPC to respond to the growing risk that their business model within the next two decades. Other research found that governments with oil and gas industries might lose $13 trillion in revenue over the next two decades if the world economy decarbonizes.