Challenges and Opportunities in the Governance of Ghana’s Petroleum Resources, Focusing on Transparency, Local Content, and Capacity Building

Abstract

This research explores the challenges and opportunities in the governance of Ghana’s petroleum resources, with a particular focus on transparency, local content, and capacity building. Since the discovery of commercial oil in 2007, Ghana has implemented various legal and policy frameworks to ensure the effective and equitable management of its petroleum wealth. Despite these efforts, significant governance gaps persist. Using a qualitative research design, the study draws on stakeholder interviews, document analysis, and statistical tools, including factor analysis and reliability testing, to examine the perceptions and effectiveness of governance practices.

The findings reveal widespread public dissatisfaction with the management of petroleum resources, limited transparency in revenue administration, weak enforcement of local content policies, and substantial capacity constraints within regulatory institutions. The study recommends strengthening transparency mechanisms, enhancing support for local businesses, investing in human capital, and improving public engagement in petroleum governance. By addressing these areas, Ghana can improve its petroleum governance outcomes and ensure that resource wealth contributes meaningfully to sustainable national development.