Despite Guyana’s remarkable rise as one of the fastest-growing oil producers in the world, the wealth generated by the industry has largely failed to benefit the majority of the population. According to a recent World Bank Fact Sheet, at least half of the country’s citizens are living in poverty. Critics argue that the real number is likely much higher when factoring in the significant number of low-wage and informal sector workers.
The government’s management of the oil revenue has come under fire, with Opposition leaders accusing officials of using the wealth to benefit friends, family, and political allies, leaving the broader public to grapple with inadequate public services.
The nation’s healthcare and education systems are among the most affected.
The World Bank’s October 2022 Fact Sheet revealed that despite substantial investments in education, Guyana is still lagging behind its Latin American and Caribbean neighbours in terms of educational outcomes. While enrollment rates at the nursery and primary levels have increased to 88% and 92%, respectively, the quality of education remains alarmingly low.
According to the Human Capital Index, a child born in Guyana today will only reach 50% of their potential productivity in adulthood due to inadequate education and poor health. This figure is far below the regional average for Latin America and the Caribbean.
The country’s educational performance is further illustrated by the disparity between expected years of schooling and actual learning outcomes. Guyanese students are expected to complete 12.2 years of schooling, but in terms of Learning-Adjusted Years of Schooling (LAYS), this translates to just 6.8 years of actual learning. This gap has been exacerbated by the COVID-19 pandemic, which caused significant setbacks in education, with simulations suggesting a potential loss of 1.6 LAYS due to extended school closures.
Public services across the board are also suffering. The public transportation system is in disarray, and many Guyanese, particularly the vulnerable, face barriers in accessing even basic services. The elderly, disabled, and poor are often left without adequate support, further entrenching the inequality that already exists.
Despite Guyana’s oil production reaching new heights, with 225 lifts recorded in 2024, the benefits of this boom are yet to be felt by the majority of the population.
Of these 225 lifts, only 28 went to the government, with the rest allocated to private companies. The revenue generated from these lifts is expected to fund critical development projects, but many citizens continue to live in abject poverty, questioning whether the country’s newfound wealth is being properly invested in the nation’s future.
Lincoln Lewis, General Secretary of the Guyana Trades Union Congress, has been a vocal critic, stating that the average Guyanese is no better off today than before oil production began in December 2019. Since that time, Guyana has earned more than US$5.4 billion in oil revenues, yet the majority of the population does not feel any of the financial benefits.
Minister of Natural Resources, Vickram Bharrat, at hsi year end press conference yesterday expressed optimism in the country’s economic gains, pointing to the record-breaking year in 2024, which saw a significant increase in the number of oil lifts. With the addition of the One Guyana FPSO in 2025, the government expects oil production to continue to rise, bringing in even more revenue. The minister also noted that Guyana is now receiving a premium for its crude oil, strengthening the country’s position on the global market.
However, despite these optimistic projections, many are left wondering if the oil wealth will ever reach the people who need it most, or if it will remain a distant dream for the majority of Guyanese.
