Assessing the Impact of Ghana’s Petroleum Management Policies on the Country’s Economic Growth and Development

Abstract

This study critically assesses the impact of Ghana's petroleum management policies on the country's economic growth and development, with a focus on the Petroleum Commission of Ghana. Utilizing a mixed-methods approach, the research combines quantitative analysis of macroeconomic indicators (e.g., GDP growth, employment, environmental metrics) and qualitative insights from interviews with key stakeholders, including government officials, industry experts, environmental advocates, and local communities. The findings reveal a strong positive correlation between petroleum management policies and economic outcomes, with policies explaining approximately 69.5% of the variance in economic growth and development. However, challenges such as revenue mismanagement, environmental degradation, and inequitable distribution of benefits persist. The study underscores the need for enhanced transparency, stricter environmental regulations, and inclusive policies to maximize the sector's contributions to sustainable development.