Home Business 1.8 billion dollars accrued from Ghana?s oil

1.8 billion dollars accrued from Ghana?s oil

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Ghana has generated 1.8 billion dollars from its oil revenue since 2011, Dr Mohammed Amin Adam, Executive Director of the Africa Center for Energy Policy (ACEP), said on Friday.

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ACEP, a non-governmental organization, works to influence energy sector policies in Africa by providing professional analysis of energy policy, training, advisory services and policy advocacy for the efficient and transparent management of Africa?s energy resources.

He was speaking a two-day workshop, on Petroleum Revenue Management, being organized by Civil Society Platform on Oil and Gas (CSPOG) at New Abirem in the Eastern Region on Friday.

The CSPOG is a civil society organization that works to advance transparency and accountability in the oil and gas as well as coordinate citizens? voice and action in the sector.

Dr Adam, a former Deputy Northern Regional Minister, said the revenue was derived from royalties, corporate income tax and surface rentals.

He said huge sums of the oil revenue were channeled into various road constructions in the country in 2012 but majority of these roads are uncompleted.

Dr Adam appealed to Ghanaians to develop interest in monitoring the inflows and outflows of the oil revenue and urged civil society organizations and the media to play their watchdog roles and guard against misappropriation of the funds.

GNA

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