‘The Oil is Drilled in Takoradi, but the Money is Counted in Accra’: The Paradox of Plenty in the Oil City, Ghana

Recent scholarship on Ghana’s oil industry has focused primarily on its grand contributions to the national economy while its intra-city impact has received less academic attention. Borrowing from Terry Karl’s interpretation of the paradox of plenty, and drawing on empirical evidence from 25 purposefully selected interviewees, the study examines how the oil production off the shores of Sekondi-Takoradi is creating complex processes of accumulation, contradiction, and displacement in a low-income community—New Takoradi. The results point to the accentuation of socio-economic risks in the community following the inflow of oil revenue which is shaping government’s macro-level policies. The paper opines that without attention to place-specific contexts, understanding its socio-economic risks and decadence, and its semblance of strong resilience becomes deceptive. The paper concludes that context and situation are significant for how and to what degree the oil boom matters in the oil city