ABSTRACT
Since Ghana attained independence in 1957, successive Governments have pursued, with
varying degrees of success, policies, programmes and projects to accelerate the growth of
the Ghanaian economy and raise the living standards of the people. These are policies,
programmes and projects around which national and development partner’s efforts are
coordinated. The discovery and exploration of oil, no doubt has increased Ghana revenue
but this has not fully translated to socio-economic development as expected. The study
therefore, seeks answers to the following questions; Has oil discovery and exploration
accounts for high cost of living in Ghana? Has the discovery and exploration of oil in
Ghana reduce the poverty level in Ghana? This study therefore, critically evaluated the
impact of oil on the national development of Ghana. The study used the Marxist
instrumentalist theory as a theoretical framework of analysis and adopted the secondary
sources of data collection which included books, scholarly journals, pamphlets,
monographs, newspapers, and magazines and governments. The ex-post facto research
design and qualitative descriptive of documented evidence was used as a method of data
analysis. The study affirmed that oil production in Ghana has not improved the economy as
expected, high standard of living and unequal development persist despite foreign earning
from petroleum resources. The study recommended amongst others, government policies
and programmes that integrates the poor and boost economic growth.
, S & A., E (2021). Oil And National Development In Ghana, 2007-2014.. Afribary. Retrieved from https://track.afribary.com/works/oil-and-national-development-in-ghana-2007-2014
, SALAMI and ETUDAIYE A. "Oil And National Development In Ghana, 2007-2014." Afribary. Afribary, 05 May. 2021, https://track.afribary.com/works/oil-and-national-development-in-ghana-2007-2014. Accessed 23 Nov. 2024.
, SALAMI, ETUDAIYE A. . "Oil And National Development In Ghana, 2007-2014.". Afribary, Afribary, 05 May. 2021. Web. 23 Nov. 2024. < https://track.afribary.com/works/oil-and-national-development-in-ghana-2007-2014 >.
, SALAMI and A., ETUDAIYE . "Oil And National Development In Ghana, 2007-2014." Afribary (2021). Accessed November 23, 2024. https://track.afribary.com/works/oil-and-national-development-in-ghana-2007-2014