{"id":87405,"date":"2015-02-01T12:01:03","date_gmt":"2015-02-01T12:01:03","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=87405"},"modified":"2015-02-01T11:10:57","modified_gmt":"2015-02-01T11:10:57","slug":"ghana-earns-1-billion-petroleum-revenue","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=87405","title":{"rendered":"Ghana earns $1 billion in petroleum revenue"},"content":{"rendered":"

The Public Interest and Accountability Committee (PIAC), an independent monitoring body on petroleum revenue management, has said $1.833 billion had accrued from the sale of petroleum resources between 2011 and 2013.<\/p>\n

It said $726.7 million was allocated to the Annual Budget Fund Amount for development projects across the country.<\/p>\n

[contextly_sidebar id=”7vqlqKj9MdwEbUbwetRg4DD4xCO6ETJ2″]Mr. Yaw Owusu Addo, a member of the Committee, said this at a stakeholders\u2019 forum in Takoradi to sensitize Ghanaians on the management of the country\u2019s petroleum revenue.<\/p>\n

He said $ 317.42 million had accrued to the stabilization fund with GHc8.93 million expended on training of human resources and Ghana National Petroleum Corporation (GNPC) received $661.2 million.<\/p>\n

The event was organized by Friends of the Nation (FON), a non-governmental organization based in Takoradi, in partnership with PIAC and funded by OXFAM.<\/p>\n

It was held on the theme: \u201cFollowing the Oil Money: Informing Citizens for Better Petroleum Revenue Management.\u201d<\/p>\n

He said there was the need for a long-term national development plan which would serve as a development framework for the country.<\/p>\n

The plan would be a working document that would be adopted by any political party to govern the country in order to have smooth and uniform development.<\/p>\n

Mr Addo appealed to Ghanaians to be abreast with the laws regulating the petroleum revenue management in order to track its usage and ensure judicious utilization of petroleum resources.<\/p>\n

He urged Ghanaians to monitor projects being implemented ed with petroleum revenue as well as holding government accountable on the use of the petroleum resources.<\/p>\n

\"FUEL<\/a><\/p>\n

He said the Petroleum Revenue Management Act, Act 815 of 2011, was a viable tool Ghanaians needed to scrutinize government\u2019s utilization of the petroleum revenue as well as assessing whether it had adhered to the tenets of the law.<\/p>\n

Mr Kwame Jantuah, a member of PIAC, said a development plan must target specific priority projects and channel the chunk of the petroleum revenue toward their implementation.<\/p>\n

This would enable Ghanaians to easily identify projects that had been implemented with petroleum revenue for the citizenry to appreciate the impact of petroleum revenue on their lives.<\/p>\n

He said the Jubilee Partners had accumulated $ 250 billion dollars from the sale of Ghana\u2019s petroleum resources between 2011 and 2013.<\/p>\n

He appealed to the government to review the $ 250 million dollar cap placed on the heritage fund so that more funds could be allocated to it to safeguard the socio-economic security of the future generation.<\/p>\n

–<\/p>\n

Source: GNA<\/p>\n","protected":false},"excerpt":{"rendered":"

The Public Interest and Accountability Committee (PIAC), an independent monitoring body on petroleum revenue management, has said $1.833 billion had accrued from the sale of petroleum resources between 2011 and 2013. It said $726.7 million was allocated to the Annual Budget Fund Amount for development projects across the country. [contextly_sidebar id=”7vqlqKj9MdwEbUbwetRg4DD4xCO6ETJ2″]Mr. Yaw Owusu Addo, a […]<\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,22,38,4],"class_list":["post-87405","post","type-post","status-publish","format-standard","hentry","tag-foresight-medical-center","tag-medcirclesgh","tag-palaver-newspaper","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/87405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=87405"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/87405\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=87405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=87405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=87405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}