Ghana accrues $3.208 billion petroleum revenue

By
Regina Benneh, GNA

Sunyani, Sept. 21, GNA – Ghana had total
annual petroleum receipts of $ 3.208 billion from 2011- 2015.

But from 2010-2015, it produced
161,797,171barrels of crude oil, Mr Roland Affail Monney, the President of the
Ghana Journalists Association and a member of the Public Interest and
Accountability Committee (PIAC) had said. 

Mr Monney was speaking at a stakeholder’s
forum organised by PIAC on the Management of Ghana’s petroleum revenue which
was attended by 34 participants including representatives of pressure groups,
professional and religious bodies and traditional authorities in Sunyani.

PIAC is a non-whip, non-partisan body with
complete independent representation of citizens’ interest through compliance
and monitoring and provision of platform for public debate among other functions.

He said from 2011-2015 the amount had been
spent in the provision of various infrastructure for the socio-economic sectors
including health, education, water and housing delivery, energy, transport,
roads, agriculture modernisation, capacity building and strengthening of
institutions.         

Mr Monney cited among the PIAC’s key concerns
that “Petroleum revenues have been used to tackle too many national problems at
the same time,” and that had weakened the potential impacts of oil revenues on
the socio- economic development of Ghana.

“Only 11 per cent of the petroleum revenue has
been allocated to the agricultural sector, which is the mainstay of the
economy”, he added.

Mr Monney said PIAC believed there should be
properly-defined guidelines on the selection of the priority areas of project
implementation in the country.

He urged the public to show interest about how
the petroleum revenues were   distributed
and used for the general benefit of the country.

He said the amount belong to the citizenry and
is the duty of every individual to know how it is being spent for their
benefit.

Some of the participants expressed worry about
the regular increases in prices of petroleum and its rippling effects on prices
of goods and services and appealed to government to introduce measures to
stabilise the situation in the interest of ordinary Ghanaians.

GNA

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