Enact A Law To Regulate Management Of Oil Wealth-Ohene Kena

A Former Energy Minster, Mr Fred Ohene Kena has supported the proposed enactment of a law to regulate the management of oil resources in the country. The legislation will also determine the distribution of wealth expected to generate from the mushrooming oil sector. Speaking on Joy FM’s Super Morning Show, Mr Kena said the law should be stringent enough to avert its being manipulated by politicians. He however advised Parliament to make the law flexible so as to allow for amendment where necessary. “Specific provision should be made for communities along the areas where the oil is discovered”, he suggested. That would avert sabotage in the sector as observed in the Nigerian case. Nigeria is dogged with militants either breaking oil pipes leading spillage and other tragic consequences including death. The country’s oil sector also suffers from hostage taking of foreign oil workers especially in the Niger Delta region. In recognition of that, Mr Kena proposed the allocation of a certain percentage of the wealth to the communities that would be affected to transform their economic status. “I have seen villages transformed completely” as result of such arrangement and made unnecessary for the people to become mischievous, he stressed.