GHANA OIL

GHANA OIL

Proceeds from the sale of oil last year stands at 660 million two hundred thousand Ghana cedis. The amount includes five percent royalties. The Chairman of the Public Interest and Accountability Committee, PIAC, Major Abloh Quarcoo who disclosed this to Radio Ghana said part of the amount was used to fund the budget whiles another part was set aside for the heritage fund.

He said in the budget, monies were dedicated to Agriculture, Gas and Road infrastructure.

Meanwhile, the Executive Director of CEPA, Dr. Joe Abbey, has called for transparency in the oil sector. This he said, will allow the public to get interested in issues bordering on the oil sector and do their own assessment. Speaking on Radio Ghana’s Current Affairs Programme, ‘Behind the News’, Dr. Abbey said the public must know the priorities initiated by government for the use of the oil revenue.

Source : GBC

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