President John Evans Atta Mills has delivered his second State of the Nation Address in Parliament and explained that it was the predestination of all Ghanaians to use oil and gas to transform the economy of the country.

Expressing satisfaction with the economic performance of his government in reviving the declining currency and bringing about stability, transparency and a strong cedi, President Mills yesterday,described the current situation as "So Far, Much Better" and dedicated the task ahead to a new diversified industry-based economy.

Pledging to strive for transparency, sound management and collective effort in the oil sector, he said history had bestowed on the present generation, under his leadership, the anticipated oil and gas wealth to salvage the economy from its over-dependence on primary raw materials into a prosperous 21st century industrial nation.

“Dr Kwame Nkrumah laid the foundation for oil and gas exploitation in Ghana and Jerry John Rawlings created the institutional framework for its exploitation before oil and gas was struck in commercial quantities in the period of John Agyekum Kufuor,” he told the House in an address which he had aptly anchored on the theme, “Partners in Vision”.

He said the actual commercial exploitation of oil and gas was beginning during his administration, saying, “In between, others have played their part.” 

President Mills said during that transformation — between now and 2016 — the nation would have established a solid foundation for accelerated job creation.

“Ghanaians will have better incomes and a much higher standard of living and be well on our way to the "middle-income" status envisaged under our original "Vision 2020" programme. That, Madam Speaker, will be the Atta Mills legacy for Ghana!” he said.

To ensure that benefits from the oil find were maximised for all Ghanaians, the President said he had directed the Ministry of Finance to prepare an Oil and Gas Revenue Management Bill to be submitted to Parliament for approval.

He said although the oil revenue would come in around the fourth quarter of this year, “I will ensure transparency in its management”.

He said he would commit the bulk of oil revenue to a shared growth fund to finance investment in human resource development and other productive infrastructure.  

That, he stressed, would include the national power grid, an extensive road network, a major extension of water supply systems, the expansion of power generation and improvement of the internal distribution system and the development of an urban sewerage system. 

President Mills explained that with the anticipated commercial exploitation of crude oil and gas, the country was being positioned for a major industrial take-off. 

He said to begin with, the foundation was being laid for an integrated aluminium industry based on bauxite, a petro-chemical industry based on salt and natural gas, a fertiliser industry to give impetus to agro development, a salt-based industrial chemical industry for caustic soda and allied consumer products and exports based on oil and gas.

“The oil and gas discovery also now makes the late Dr R. P. Baffour's long cherished dream of an integrated iron and steel industry based on the iron ore deposits at Opon Manso in the Western Region a real possibility.

“Beginning from this year, we are putting together the building blocks of an oil and gas-based industrial architecture to ensure that by 2016 we would have exploited these resources and changed the country's economic paradigm so that our dependence on traditional raw material exports of cocoa, gold and timber will be a thing of the past,” he said.

On discipline, President Mills called on Ghanaians to let it manifest in every aspect of their lives as the government worked hard to achieve its ‘better Ghana’ agenda.

“The ‘better Ghana’ that we long to achieve cannot be reached without self-discipline in every aspect of our lives: at work, in the office, on the road, at the marketplace, at the lorry station and, above all, in our attitude to time,” he stressed.

 The President noted that discipline could only come from the inner self and, therefore, urged Members of Parliament “in this House today to bear the responsibility for setting a clear and visible example for our fellow citizens”.

“And this year, I will expect this same ‘addiction’ from ministers and officials of state. I expect all ministers and other officials to be punctual to functions to which they are invited. I want organisers of such functions to draw the attention of the Presidency to ministers and officials who become notorious late comers,” he said.

President Mills also expressed concern over the carnage on the roads, saying the loss of dear ones not only took a human toll but also had serious economic consequences. 

He, therefore, charged the Police Service to submit, within the shortest possible time, a blueprint for a drastic reduction in road accidents. 

On his pledge to Ghanaians 10 years ago when he first accepted the nomination as the National Democratic Congress (NDC) presidential candidate, he said he had pledged to serve every Ghanaian, without regard to ethnic origin, gender, religion or political allegiance, strive to bring reconciliation and harmony throughout the country and be transparent in everything he did.

   President Mills pledged his commitment to uproot corruption of “any kind, anywhere and at any time”.

 “Our priorities will be to offer every Ghanaian and especially our young people education and opportunities for self advancement,” he said.