President John Dramani Mahama has pledged to breathe new life into the twin cities of Sekondi-Takoradi and revive Ghana's struggling petroleum sector.
Speaking at the State of the Nation Address on February 27, 2025, the president highlighted the significant decline in crude oil production, which has dropped by over 32%, attributing the downturn to opacity, a hostile business climate, and excessive political interference. "The petroleum sector has witnessed a precipitous decline, with crude oil production sinking by more than 32%.
This has resulted from the high opacity levels, a very hostile business climate, and excessive political interference in the sector, culminating in most of the major oil companies exiting and stalling all upstream activities," he said.
President Mahama expressed concern over the exodus of major oil companies and the stalling of upstream activities, which have severely impacted the economy of Sekondi-Takoradi. "Just under a decade ago, these cities were the bustling epicentre of fabrication logistics service activities associated with the upstream oil and gas sector.
