The Public Interest and Accountability Committee Chairperson, Emerita Professor Elizabeth Ardayfio-Schandorf, says the utilisation of petroleum revenues has improved given the requirements of the Petroleum Revenue Management Act, 2011, Act 815.
Addressing journalists at a zonal media engagement with journalists and editors in the Western and Central regions to discuss its 2023 annual report on the management and use of petroleum revenues in Ghana, Professor Elizabeth Ardayfio-Schandorf said the engagement is to provide space and a platform for public debate on its observations, findings, and recommendations.
Professor Ardayfio-Schandorf called for accountability from duty-bearers regarding utilising petroleum revenues.
“As part of our mandate, we have to produce two reports a year, and so we are here in the region, to present our annual report which is the 13th. The mandate enjoins us to provide a platform for the public to be informed, and to debate as to whether petroleum revenues are being utilised and managed according to the Petroleum Revenue Management Act,”
“This is to engage the citizenry in the report so that they will be well informed, and demand accountability from duty bearers and those who utilise petroleum revenue.
Petroleum revenues started accruing to Ghana in 2011, the year after commercial production and if you look at the trend of spending from 2011 up till now, I will say that the mode of spending, and utilising the funds have improved a great deal because at the beginning institutions were not very clear about the requirements and demands of the Act, ” Prof. Ardayfio-Schandorf said.
–PIAC
