“Funding Free SHS The Most Equitable Use Of Oil Revenues” – President Akufo-Addo.
The President of The Republic, Nana Addo Dankwa
Akufo-Addo, says the use of some of the country’s oil revenues to fund
the Free Senior High School policy, which is guaranteeing all Ghanaian
school-going school access to senior high school education, is most
appropriate.
According to President Akufo-Addo, “We are using some
of the income from our oil revenue to fund the programme. I believe
strongly that this is the most equitable and transparent use of the oil
revenue, instead of it finding its way into the pockets of politicians
and bureaucrats.”
As a result of the implementation of the Free SHS
policy, the President stated that his Government is laying a strong
foundation for an educated and skilled workforce of the future, adding
that “we are investing in our future scientists, engineers, modern
farmers, innovators, entrepreneurs, and transformation agents!”
President Akufo-Addo made this known on Friday, 11th
May, 2018, when he delivered the keynote address at the 2018 Oxford
Africa Conference, at the University of Oxford.
This year, the Akufo-Addo government has announced
that it will spend some GH¢453 million ($103 million) of the country’s
oil revenue on funding Free SHS, more than double the amount spent last
year on funding the policy.
Addressing the gathering on the theme “Enough
Rhetoric: Catalysing an Era of Concrete Action”, the President stated
that his administration has embarked on shifting the emphasis in
education to ensure that science, technology, engineering and
mathematics drive all sectors of the economy.
“We are committing resources to basic and applied
science and engineering to ensure that we are able to meet the critical
need for technicians and engineers. This process encompasses also a
scaling up of technical, vocational and education training to supply the
skills needed to build a modern economy,” he added.
Increase in Trade
Touching on the issue of trade, President Akufo-Addo
stated that the ratification of the Continental Free Trade Area
agreement by the Ghanaian Parliament, would mean that the era of low
volumes of intra-continental trade that have defined the activities of
the African economies will come to an end.
“Up till now, trade between African regions has
remained low compared to other parts of the world.
In 2000,
intra-regional trade accounted for 10% of Africa’s total trade, and
increased marginally to 11% in 2015. Trading amongst members of the
European Union, for example, amounted to 70% in 2015,” the President
said.
He noted that with Africa’s population set to
increase from 1.2 billion to 2 billion in 20 years time, an increase in
intra-regional trade in Africa is the surest way to develop fruitful
relations between African countries.
This market, he explained, will present immense
opportunities to bring wealth and prosperity to the African people, with
hard work, ingenuity, innovation and enterprise.
“It will mean a rapid increase in exchanges of our
agricultural, financial, industrial, scientific and technological
products, which would enhance dramatically our attainment of prosperity,
and the prospects of employment for the broad masses of Africans,
particularly our youth. Our economies would then be shaped not by the
production and export of raw materials, but by the things we make,” he
added.
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