The recent address by former Speaker of Parliament, Professor Aaron Mike Oquaye, at the National Mining Dialogue 2026 in Accra underscores a critical juncture for Ghana’s economic trajectory. Professor Oquaye, a staunch advocate for a fundamental shift in the nation’s resource management strategy, has repeatedly emphasized the imperative for Ghana to substantially deepen its technical expertise and actively involve Ghanaian professionals throughout the entire mineral resource lifecycle – from exploration to processing and value addition.
Professor Oquaye’s critique stems from a perceived disconnect between the country’s current reliance on foreign royalties and the potential for Ghana to achieve genuine economic transformation. He contends that Ghana’s natural wealth, particularly gold, bauxite, and manganese, currently represents a significant burden rather than a catalyst for prosperity. According to a recent report by the Institute of Economic Affairs (IEA), Ghana’s current approach of heavily relying on royalties has not yielded the expected levels of economic diversification and growth, highlighting a strategic misalignment with the nation’s long-term ambitions.
His argument is rooted in a profound belief that Ghana’s inherent resources should be harnessed to stimulate industries, generate employment opportunities, and ultimately improve the lives of its citizens. He argues that the current system of royalties has, in effect, perpetuated a cycle of dependency, limiting Ghana’s capacity to fully capitalize on its natural assets. The core of his message centers on the need to move beyond simply extracting resources and embrace a paradigm of local ownership and industrial development.
Specifically, Professor Oquaye stresses the urgent need to cultivate a robust system of technical expertise within Ghana. He envisions a significant increase in the number of Ghanaian professionals – engineers, geologists, metallurgists, and industry specialists – directly engaged in the mining value chain. This is not merely about maintaining existing extraction activities; it’s about establishing a framework where Ghanaian entrepreneurs and businesses can actively participate in the processing, manufacturing, and distribution of minerals.
He calls for a fundamental re-evaluation of how Ghana’s mineral resources are utilized, advocating for a shift away from solely relying on royalties. He explicitly champions the investment in human capital and technical expertise – suggesting that Ghana’s future prosperity hinges on fostering a talent pool capable of driving innovation and operational excellence within the mining sector.
The government, according to Professor Oquaye, must recognize that Ghana’s natural resources are not merely a source of revenue but a foundational element for addressing unemployment and fueling sustainable economic development. The current model of relying predominantly on royalties presents a significant impediment to this goal. The IEA, a key partner in Professor Oquaye’s advocacy, has consistently contributed to discussions on national asset ownership and the need for a more proactive approach to resource management. They have been actively involved in analyzing Ghana’s mineral resource potential and proposing strategies for long-term growth.
Professor Oquaye further contends that the country’s historical trajectory, marked by a focus on industrial revolution and technological advancement, has left Ghana lagging behind other nations that have successfully leveraged their natural resources. He emphasizes the importance of investing in human capital and technical expertise to enable Ghana’s mineral resources to become a significant driver of national economic strength.
His call is for a paradigm shift – one that prioritizes local ownership, industrial capacity, and a commitment to fostering a vibrant and skilled workforce within Ghana’s mining sector. He proposes a coordinated effort involving government, industry, and educational institutions to build a sustainable and prosperous future for the nation, predicated on the judicious and strategically leveraged exploitation of Ghana’s mineral resources.
The government has also launched a livestreaming event focusing on the suspension of DVLA delinquency fees and action against police extortion. This demonstrates a commitment to addressing critical economic challenges facing the nation, aligning with the broader strategic vision outlined by Professor Oquaye.
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Source: Adom Online
