President John Mills says his government intends to use the oil and gas industry to transform Ghana’s agro-based economy into a diversified 21st century middle income country by 2016.

Addressing parliament in his second state of the nation address, the President said he hoped that that feat could be his legacy. He said there is the need to establish processes that will accelerate development towards shifting from a purely agro-based economy.

According to the President, his Government will ensure that benefits from the oil industry are invested into sectors that will bring improvement in the lives of Ghanaians.

He says his administration is positioning the country for a major industrial take off based on the oil and gas industry. Revenue from the sector, according to President Mills will start accruing in the fourth quarter of the year.

“…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 from overdependence on primary raw resources of cocoa, gold and timber.”

President John Mills also told the House that his administration will ensure accountability from former state officials adding that such actions must not be seen as vengeance.

He said he is proud that the country’s economy has improved after his first year in office.

He described the current state of the nation as ‘much better’ to what he inherited and expressed confidence that his administration will be retained in office after his first four-year tenure.

The President told his critics that though he may be slow at doing things, he certainly achieves results eventually.

His party’s founder, former President Jerry Rawlings and other NDC stalwarts such as MP for Lower Manya Krobo, Michael Teye Nyaunu have been President Mills’s harshest critics in that regard.

He said he will strive to make the right decisions rather than rush into faltering. President Mills says the buffer stock management programme started in 2009 to ensure food is stored in times of glut will be firmly pursued.

According to the President reconstituted National premix committee has greatly mitigated abuse of the fuel which is critical to the work of fisher folk along the coastline.

On education, he said the distribution of free school uniforms which started in the Central region will be extended countrywide this year.