He said such support was necessary because the growth of indigenous industries could change the fortunes of the local economy and propel growth.

He made the call at the inauguration of a new office complex for the Ghana Oil Company Limited (GOIL) in Kumasi last Friday.

The office would serve the upper middle belt of the country and also serve as a centre for the implementation of the government’s cylinder recirculation exercise.

Among other facilities, the complex has conference halls, cash booth and ancillary facilities, including a firefighting arena fitted with modern equipment.

Local industries

Otumfuo Osei Tutu said it made a lot of sense to provide deliberate support for the survival of local industries because unlike the multi-nationals, their profits stayed in the country to aid development and the stability of the cedi.

Mentioning GOIL for praise, he stated that the company had contributed to the stabilisation of fuel prices at a time it was being hiked at some pumps.

Otumfuo Osei Tutu said beyond vouching for GOIL’s high quality products, "it has helped to create jobs and contributed meaningfully to the growth of the economy."

He urged the workers of the company to see themselves as key partners by working hard to grow the company.

Group CEO

The acting Managing Director of GOIL, Mr Kwame Osei Prempeh, said measures were being taken to guarantee the integrity of the company’s products.

In line with that, he said, GOIL had intensified its vigilance through the use of a mobile laboratory van to check the quality of fuel sold to customers.

On the office complex, Mr Prempeh said its location was strategic because Kumasi was the nerve centre of entrepreneurship and businesses in Ghana.

GOIL ready

The outgoing Managing Director of the company, Mr Patrick A. K. Akorli, for his part, noted that GOIL was now ready to match the multinationals in the oil business “boot-for-boot.”

He said the company was determined to provide fuel for the Ghanaian market at the least cost to cushion customers.