A development consultant Dr Todd Moss has suggested that oil revenue to be generated from Ghana’s oil find be shared in physical cash to citizens.

Radical as the suggestion may sound, Dr. Moss insists that is the sure way to ensure that Ghana’s oil find becomes a blessing and not a curse.

He made the contribution at a forum organised by the Institute of Economic Affairs to plan how Ghana’s oil revenue will benefit the ordinary Ghanaian.

Dr Moss who is a Senior Fellow and Vice President of Corporate Affairs at the Centre for Global Development in the US said the system is gradually gaining popularity, having served the state of Alaska well enough.

He said Libya and other oil rich countries are beginning to implement the policy.

His opinion however was sharply at variance with other contributors who argued vehemently for the investment into public infrastructure education and health.

But Moss said that suggestion in most cases is a phantom idea which takes too long for the ultimate beneficiaries to enjoy.

“A cash in hand is much better than a promise of road five years from now, or a clinic ten years from now or maybe a job if the economy grows,” he argued.

“It is something tangible people can feel,” he said adding “It is clear for everybody involved to know what the money is being used for. There is no mystery. No black box,” he added.

The proposal he said can be implemented to fulfill Ghana’s regional balance.

Dr Moss said the proposal is more transparent and will avoid the teething corruption associated with oil rich countries in Africa

Tags: business news, cash payments, ghana, oil revenue