[ 2021-02-13 ]

I’ll tackle opacity in oil cash utilisation – Napo assures
Energy Minister-designate Dr Mathew Opoku Premeph
has said that one of the things he will do at the
ministry if approved, will be to ensure adequate
transparency in the utilization of oil revenue.

He told the Appointments Committee of Parliament
during his vetting on Friday February 12, that
reports of the Public Interest and Accountability
Committee (PIAC) have over the years raised issues
about the lack of openness in the utilisation of
oil cash.

He said he will look into this matter and address
it appropriately.

Asked by Tamale South lawmaker Haruna Iddrisu to
explain how he will deal with the concerns raised
by PIAC, regarding the opacity in oil cash
disbursements, he said “[I] will ensure
Transparency in the utilisation of oil revenue.

“We need to ensure more transparency in the
utilisation of oil revenue.”

It is recalled that former Chair if PIAC Dr. Steve
Manteaw raised concerns that the government was
unable to account for oil revenue totaling
GH¢2,132,188,611.01.

He said in a Facebook post in August 2020 that
under the NPP government since it assumed power in
2017, GH¢400,914,441 is missing.

In 2018, GH¢251,377,870.01, 2019,
GH¢1,479,896,300.00, have not been accounted for
and the total amount of the oil money is
GH¢2,132,188,611.0, Dr. Steve Manteaw said.

He further noted when the government introduced
the Agyapa Royalties agreement that if the
government has still not been able to account for
GH¢1.5 billion of the country’s oil funds, then
it cannot be trusted to monetise Ghana’s mineral
royalties

He said the government has promised on several
occasions to account for it but has not done so.

“The last time I enquired from some colleagues
of PIAC about the money, I was told by them that
the government has promised to account for it in
the 2021 budget”, he said.

Dr. Manteaw, however, added: “I don’t believe
the money is still there”.

Source - 3 News

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