THE announcement of a five-year plan for economic growth and infrastructure is exactly what Guyana needs, especially as the country deals with the tempting promise and real dangers of oil wealth.
President Irfaan Ali’s recent comments at the Guyana Oil and Gas Energy Chamber are encouraging.
The President’s focus on diversification instead of relying solely on oil is a smart move.
In fact, it is essential. With production expected to reach 1.3 million barrels per day by 2030, and a potential oversupply between 2025 and 2030, Guyana cannot afford to be complacent. The vision of integrated infrastructure, whether seen in the Wales and Berbice energy system or in proposed shipping and logistics hubs connecting Brazil and CARICOM, shows the wise management that wealth demands.
These projects are the building blocks for a future beyond oil.
The social transfer programmes that have been implemented—the $100,000 cash grant for adults, increased education grants to $55,000, pension hikes to $41,000- show a real effort to redistribute resources.
The IMF’s praise for these programmes is significant, as they have clearly reduced poverty and increased disposable income.
The crucial question is not whether the government aims to share oil wealth fairly, but whether this five-year plan will lead to real change rather than just targeted cash transfers.
Cash grants help ease financial strain, but they do not ensure decent jobs or upward mobility.
The government’s plan to digitise the welfare system is a step forward for transparency, but we should not confuse being efficient in distributing benefits with being effective in creating wealth-building opportunities for the average Guyanese.
President Ali rightly points out that Guyana’s long-term strength lies not in oil production but in using that wealth to build human capital, secure energy supplies, and diversify the economy.
This view is spot on. However, turning plans into results requires careful attention. Free tertiary education and better school facilities are investments that deserve praise. So are improved hospitals and expanded health programme. These are the essential elements of real development.
The real test of this five-year plan will be reflected in the notebooks of children in better-equipped schools, in the business ideas of young entrepreneurs who can access low-collateral loans, in the stability of farmers armed with modern tools, and in the health of communities free from preventable diseases.
It will also show in the dignity restored to workers in agriculture and fishing, sectors often overlooked in stories focused on success in the energy industry.
Guyana is at a crucial crossroads. The oil boom is real, the momentum is genuine, and the government seems genuinely committed to social welfare programmes.
Guyana must ensure that its five-year plan is not only ambitious but transformative, not just for overall GDP numbers, but for the everyday experiences of the people who built this nation.
The children who will inherit this future deserve nothing less.
