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Ghana’s Mahama Backs Plan to Allocate Oil Funds, Graphic Says

Dec. 6 (Bloomberg) -- Ghana’s Vice President John Mahama supports proposals to allocate 10 percent of the country’s oil revenue to the Western Region, the area nearest its offshore find, the Daily Graphic said, citing a speech by Mahama.

Traditional chiefs and politicians from the region have sought to have the country’s parliament earmark funds for its infrastructure development, the Accra-based newspaper said. The parliament is currently debating a proposed oil revenue law, a draft of which does not set aside funds for the region.

The country is due to begin production from its Jubilee field, located 60 kilometers (37 miles) offshore, next week.

To contact the reporter on this story: Jason McLure in Accra on jmclure@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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