The Public Interest and Accountability Committee (PIAC) has marked 15 years of promoting transparency and accountability in Ghana’s management and use of petroleum revenues.

🇬🇭 Here's What Happened

The Committee was established under the Petroleum Revenue Management Act, 2011 (Act 815), to monitor government’s compliance with the law, promote public participation in petroleum revenue management and provide independent assessments to support Parliament and the Executive in their oversight responsibilities.

Speaking at the launch its 15th anniversary celebrations in Accra, Mr Richard Ellimah, Chairman of PIAC, said the Committee had pursued its statutory mandate through the publication of reports, project inspections, public engagements and participation in policy discussions on petroleum revenue management.

He said the management of natural resources was a collective responsibility requiring the active participation of government, Parliament, oversight institutions, civil society organisations, the media, academia, traditional authorities, development partners and citizens.

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Mr Ellimah urged the public and the media to continue demanding information, asking questions and participating meaningfully in discussions on the use of petroleum revenues.

Professor Akosua Darkwah, Chairperson of the anniversary occasion, said the 15-year journey of PIAC reflected Ghana’s recognition that the discovery of natural resources did not automatically translate into development.

She said the experience of oil-producing countries showed that development outcomes depended largely on decisions taken on the management and investment of resource revenues.

Prof. Darkwah cited Norway’s decision to invest surplus oil and gas revenues as an example of how deliberate choices could enable countries to convert natural resource wealth into long-term national development.

Mr Noble Wadzah, a former PIAC Chairman, said the Committee’s 15-year experience had demonstrated that transparency alone was insufficient to guarantee accountability.

He said the critical step was to ensure that recommendations contained in PIAC’s reports were acted upon by the relevant institutions.

📰 Source: Joy Online Ghana