Public Interest Accountability Committee

News

CONDUCT SPECIAL AUDIT INTO $2.6 BILLION OIL REVENUE ALLOCATION TO ABFA – PIAC
4th March 2022

The Public Interest and Accountability Committee (PIAC) has urged the Auditor-General (AG) to conduct a special audit into the $2.6 billion (GH₵9.41 billion) oil money allocated to the Annual Budget Funding Amount (ABFA) over the 10 years...

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GHANA EARNS $6.55BN FROM OIL IN 10 YEARS
3rd March 2022

Ghana has earned $6.55 billion in total petroleum receipts between 2011 and 2020, an ‘Assessment of the Management and Use of Ghana’s Petroleum Revenues (2011-2020) has revealed. Out of the amount, the Annual Budget Funding Amount...

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GHANA USES 74% OF PETROLEUM REVENUE TO SERVICE DEBT
3rd March 2022

An assessment of the management and use of Ghana’s Petroleum Revenues from 2011 to 2020 shows that the country in 10 years has spent 74 per cent of withdrawals made from the Ghana Stabilisation Fund (GSF) on debt repayment. The amount...

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GHANA EARNS UNIMPRESSIVE $6.5B FROM OIL IN 10 YEARS
3rd March 2022

The Public Interest and Accountability Committee (PIAC) says Ghana, earned $6.55 billion out of the $31.22 billion generated from its three oil producing fields. The amount is an equivalent of 9.97 per cent of 2020 Gross Domestic Product [the...

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GHANA FAILS TO ATTRACT NECESSARY SOCIO-ECONOMIC BENEFITS FROM OIL PRODUCTION – REPORT
3rd March 2022

A report sanctioned by the Public Interest and Accountability Committee (PIAC) has revealed that the country has failed to attract the necessary socio economic benefits since oil production began 10 years ago. The report said the positive...

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PIAC URGES GOV’T TO REVIEW POLICIES IN PETROLEUM UPSTREAM SECTOR
3rd March 2022

The Public Interest and Accountability Committee (PIAC), has disclosed that Ghana’s oil production might possibly be face some threats if measures are not put in place to review some laws guiding the industry. The Committee has noted that...

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