PIAC UNVEILS CITIZEN-FRIENDLY REPORT ON PETROLEUM REVENUE MANAGEMENT

The Public Interest and Accountability Committee (PIAC) in Ghana has launched a ‘Citizens Version’ of its 2022 Annual Report on petroleum revenue management. This initiative is designed to foster transparency and promote informed citizen participation in the governance of petroleum resources.

Unveiling a significant stride towards enhanced transparency, PIAC has made public a ‘Citizens Version’ of its statutory annual report on petroleum revenue management in 2022. This 60-page document, a brainchild of PIAC, is designed to break down complex and technical information into a form that’s comprehensible to the average citizen. The Paramount Chief of Asante Asokore, Professor Nana Susubribi Krobea Boaten, proudly chaired the launch of this initiative.

Demystifying Petroleum Revenue Management

The inaugural edition of this document encapsulates the highlights of the original 2022 annual report of PIAC. It presents an array of key data, ranging from petroleum production and sales to revenue collection and allocation. In addition, it outlines the distribution and utilisation of the Annual Budget Funding Amount (ABFA).

Paving the Way for Informed Citizen Participation

Emerita Professor Elizabeth Ardayfio-Schandorf, the Chairperson of PIAC, underscored the Committee’s steadfast dedication to fostering transparency and accountability in financial management. This initiative is a beacon of PIAC’s commitment, aiming to empower citizens with requisite knowledge for advocacy and decision-making in the governance of petroleum resources.

Further echoing the significance of this initiative, Ms Kathleen Addy, the Chairperson of the National Commission for Civic Education (NCCE), spotlighted the document’s potential as a tool for civic education. She emphasized that it could spur informed citizen participation in governance.

Keeping Pace with the Energy Sector

Dr Steve Manteaw, the former Chairperson of PIAC, highlighted the necessity for the government to stay abreast of trends and changes in the energy sector. His remarks come at a crucial time, as the world is witnessing an ongoing energy transition. His call for vigilance underscores the importance of informed decision-making in navigating the evolving landscape of energy governance.

SOURCE: BNN

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