Ghana has a total of 2 billion barrels of oil left to drill before hydrocarbons get depleted. Government has earned US$6.2bn since production began in the first half of 2020. Nine percent of the total revenue has been saved for the next generation. PIAC has called on Parliament to bring its oversight mandate to bear on the Ministry of Finance.
The committee said the ministry’s persistent failure to provide half-year data on ABFA utilisation is eroding gains in the fight for transparency and accountability in the management and use of Ghana’s petroleum revenues for the benefit of citizens.