Public Interest Accountability Committee

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PIAC URGES GOVERNMENT TO STICK TO CHOSEN OIL-FUNDED PROJECTS
21st August 2020

The Public Interest and Accountability Committee (PIAC) has urged government not to exceed funding beyond four priority areas as permitted by law. Per the Petroleum Revenue Management Act 2011 (PRMA), government can only fund four out of 12...

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INT’L OIL COMPANIES REFUSE TO PAY FOR SURFACE RENTALS – PIAC
20th August 2020

The Public Interest and Accountability Committee (PIAC), an independent statutory body established under Section 51 of the Petroleum Revenue Management (PRMA) Act, 2011 (Act 815), has said it has observed that over the years, some International Oil...

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PIAC WORRIED ABOUT THIN-SPREAD OF PETROLEUM REVENUES FOR PROJECTS
19th August 2020

The Public Interest and Accountability Committee (PIAC), an independent statutory body, has expressed concern about the thin-spread of petroleum revenues for projects, resulting in paltry allocations. It said the inadequate funding made it...

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FOR OIL TO DELIVER PROSPERITY, WE MUST COMMIT TO GOOD GOVERNANCE – PIAC
18th August 2020

To ensure that the country’s hydrocarbon resources are used to deliver prosperity, there must be good governance as well as implementation of petroleum laws to the letter, the Public Interest and Accountability Committee (PIAC) has...

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TEETHING ISSUES IN PETROLEUM REVENUE MANAGEMENT NEED URGENT ATTENTION - PIAC
18th August 2020

The Public Interest and Accountability Committee (PIAC) has launched an issue paper cataloguing a number of issues needing urgent attention in the petroleum revenue management space. The paper, which has been launched ahead of marking a decade of...

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PIAC REPORT EXPOSES FINANCE MINISTRY'S FAILURE TO ACCOUNT FOR UNUTILISED ABFA
10th August 2020

The Ministry of Finance has for the third consecutive year failed to account for unutilised Annual Budget Funding Amount (ABFA) of oil revenues, the Public Interest and Accountability Committee (PIAC) has disclosed. In its 2019 annual report on...

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