By Joseph ZIEM
The Public Interest and Accountability Committee (PIAC) has urged Ghanaians to take an active interest in how the country’s oil revenues are managed and used, warning that, without sustained citizen oversight, Ghana risks repeating the mistakes of its mining past.
This call was made during a well-attended public forum held in Yendi in the Northern Region. The event, organized as part of PIAC’s nationwide public engagement mandate aimed to promote transparency and accountability in the management of Ghana’s petroleum revenue.
According to PIAC’s 2024 Annual Report, Ghana earned US$1.357 billion from oil in 2024 alone, bringing the total receipts since 2011 to US$11.2 billion. Of this amount, the Ghana National Petroleum Corporation (GNPC) received US$3 billion, the Annual Budget Funding Amount (ABFA) accounted for US$4.4 billion, while the Stabilization and Heritage Funds received US$2.59 billion and US$1.1 billion respectively.
As Ghana navigates economic uncertainty and renegotiates IMF terms, the role of petroleum revenues in budgetary support, debt servicing, and future investments has never been more critical.
“After over a century of mining gold, our mining communities still struggle with poor roads and weak infrastructure,” Civil Society Representative, Richard Ellimah said. “When oil was discovered in 2007, there was a national push to do things differently. That’s why the Petroleum Revenue Management Act (PRMA) was passed in 2011 to ensure transparency, proper oversight, and that oil revenue benefits all Ghanaians, not just a few,” he noted.
Mr. Ellimah explained that, PIAC, established under Section 51 of the PRMA, is a unique citizen-led oversight body with no government representation. Its mandate includes monitoring compliance, engaging the public, and conducting independent assessments of petroleum-funded projects.
Yendi’s share
The Municipal Chief Executive of Yendi Municipality Muniru Sugri expressed gratitude for the government’s investment in Yendi through petroleum funds, citing progress in education, health, sanitation, and infrastructure. “There is still a long way to go to meet the full development aspirations of our people.”
The MCE called on residents to collaborate with government to ensure that petroleum revenues are allocated in a way that truly responds to the needs of the people of Yendi and Ghana at large. Also, projects are implemented to the highest standards while the local citizens monitor these projects to ensure value for money, he added.
Policy, oversight and the people
Currently, the allocation of petroleum revenues is guided by ministerial discretion, in the absence of a long-term national development plan. For the 2023–2025 cycle, government has prioritized spending in four areas: agriculture, education and health infrastructure, roads and rail, and industrialization.
