PIAC is scrutinizing GNPC’s use of over $15 million for maritime boundary activities

The Public Interest and Accountability Committee (PIAC) has raised concerns regarding the ongoing expenditure by the Ghana National Petroleum Corporation (GNPC) on activities related to the maritime boundary dispute.

Despite the Ghana Boundary Commission being tasked with addressing this issue, GNPC has continued to allocate funds towards it.

In 2023, GNPC spent $1.13 million on the Maritime Boundary Special Project and a total of $14 million on activities associated with the maritime boundary.

PIAC highlighted in its 2017 annual report that GNPC had allocated $3.8 million towards the secretariat activities of the Ghana-La Cote d’Ivoire Maritime Boundary Dispute.

PIAC has urged for a refund of this amount, emphasizing that the dispute is a matter between two sovereign states and should not be financed by a National Oil Company (NOC).

However, despite PIAC’s demand, the 2023 annual report indicated that the $3.8 million expenditure from 2017 had not been refunded by GNPC.

GNPC defended its spending, arguing that it manages oil on behalf of the state, and thus, the dispute-related expenses did not negatively impact the corporation.

Despite the Ghana Boundary Commission being responsible for such matters and managing its own budget, PIAC found that GNPC continued to allocate funds to the Maritime Boundary Dispute and its associated activities.

While GNPC justified its expenditure as part of its annual work programme approved by Parliament, PIAC disagreed with this rationale.