He argued that, Parliament has not been thoroughly effective in carrying out its oversight responsibilities, hence the need to critically examine the agreement.

Professor Raymond Atuguba raised this concern in a presentation christened, “The Ghana-ExxonMobil  Petroleum Agreement, a legal and political economic analysis.”

This was at a two-day workshop on the Ghana-ExxonMobil Petroleum Agreement sponsored by the German Development  Cooperation (GIZ), in partnership with the Institute of Financial and Economic Journalists (IFEJ), at Akosombo in the Eastern Region.

He said there was limited transparency in the agreement, and also decried Ghana’s 15% shareholding, whereas a yet to be identified Indigenous Ghanaian Company (IGC) is to have 5% shares.

Professor Raymond Atuguba thereby admonished successive governments to negotiate better deals on the nation’s natural resources, and invest the proceeds in projects that are everlasting.

“Ghana’s political stability makes her attractive to multinationals who want to exploit the natural resources. It is imperative that we harvest now and invest in sustainable and renewable resources,” the law Professor stressed.

He proposed amendments of some aspects of Ghana’s legal regime governing the signing of oil contracts with multinationals.

According to him, the Energy Minister’s limitless powers on managing the oil resources undermines the 1992 Constitution that set up the Petroleum Commission.

“The unconstitutional powers of the Minister are huge and indeed can undo all the good in the law. The Minister is not responsible for the regulations and management of utilization of natural resources concerned, and the coordination of the policies in relation to them,” he explained.

A policy Analyst and also an outspoken member of the Public Interest and Accountability Committee [PIAC], Dr. Steve Manteaw, critically assessed the strength and weaknesses of the ExxonMobil Petroleum Agreement from the perspective of fiscal provisions, risk and benefit of the allocation.

He identified some worrying provisions in the contract, which he said should be critically examined before the  Parliamentary ratification.

“The default position of the law in respect of licensing; Section 10 (3) of the Petroleum Agreement, shall only be entered into after an open, transparent and competitive public tender process. Provision of bonus payment (Section 88 of the Petroleum Revenue Management Act was not invoked.”

He called for a bipartisan approach to ratification of the agreement.

Dr. Steve Manteaw opposed the import and export tax waivers to multinationals exploring Ghana’s oil resources, and described the act as a huge loss of revenue to the ailing local economy.

The ExxonMobil Petroleum Agreement was signed by the Energy Minister, Boakye Agyarko on January 18, 2018.

The allocation, which was done through direct negotiation is situated in the deep water Cape Three Points area of the Western Region.

The agreement is awaiting Parliamentary ratification after an Indigenous Ghanaian Company has been found to take the assigned 5% shareholding.

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By: Abdul Karim Naatogmah/citifmonline.com/Ghana

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Supreme Court judge, Justice William Atuguba and the National Youth Organiser of the governing New Patriotic Party (NPP), Sammy Awuku, bumped into each other at the event.

The NPP youth leader, who played a major role in the victory of the party last year, made headlines when he was hauled before the Supreme Court for criminal contempt after he had publicly criticized the justices for an order he considered to be prejudiced against Western Publications Limited, publishers of DAILY GUIDE in the heat of the famous election petition hearing.

At the time, Justice Atuguba, who presided over the court, did not spare the young man when he appeared before the justices to explain why he should not be committed to prison sentence or a fine since his comments were deemed to be scandalous to the court.

The court subsequently banned Mr Awuku from the rest of its proceedings on the election petition and he narrowly escaped a severe punishment of the court.

But it was all smiles when the two met moments after the inauguration of the new Chief Justice during refreshment.

Interestingly, Justice Atuguba could not make Sammy Awuku out initially, but after some few seconds said “…aah Sammi Awuku eerrh…ooh good to see you again. You know after our encounter I learnt that you are a very good gentleman… I monitored you a few times and I was impressed…hehehe keep it up…”

Some anxious paparazzi, who had seen the two exchanging pleasantries, immediately placed their cameras on them.

In response, Awuku said “… My Lord now I know my real size so I’m staying out of trouble.”

They both burst into laughter with the media and other guests keeping a close eye on them. This was the first time Justice Atuguba and Sammy Awuku were meeting at a major public event.

Some Justices of the Superior Court, who were nearby, described the episode as ‘father and son’ reunion.

Awuku was later seen escorting Justice Atuguba to his vehicle. The NPP youth organizer said “it was just exchange of pleasantries.

He, however failed to give further details about their five-minute encounter.

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Source: Daily Guide

The post Atuguba meets Awuku after ‘punishing’ him during election petition case appeared first on Citi 97.3 FM - Relevant Radio. Always.