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...

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...

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...

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...

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...

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...