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This comment follows the government's decision to reduce its stake in the AGM Petroleum Ghana Limited agreement.
He made this observation by speaking to the media after Wednesday's sitting of Parliament, where he said the government was looking to favor some big businesses through this deal.
"This government is developing a tendency to be on the side of big business to the detriment of every Ghanaian. And it's a trend that should worry us, "he warned.
According to him, the Minister of Energy, John Peter Amewu, must explain to Ghanaians why he wants to further reduce to 48% the 48% stake of the state in the oil sector.
"According to my initial calculation, they reduce Ghana's participation under this amendment from 48% to 18%.
"Now, someone has to come and explain to the Ghanaian people that our stake, why a country that is struggling so much for money, will reduce its stake from 48% to 18%," he said. The former oil minister is questioned.
According to the deputy of Ellembelle, Ghana has signed an oil agreement with the AGM. Under the terms of the agreement, Ghana will still have 10% royalty.
In addition, he added, interest under the amended agreement is 15% against 10% for the old agreement.
The legislator further pointed out that the additional interest, which provides a fixed percentage of additional holdings that the government could purchase in the event that the exploration would be successful, had been reduced from 15% to 3%.
Still in the old agreement, the GNPC had a 24% stake, but with the amendment, the GNPC had no action.
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