A Policy Analyst and Campaigns Coordinator at Integrated Social Development Centre, Dr Steve Manteaw, has revealed that the government is unable to account for oil revenue totaling GHC2,132,188,611.01.
In a Facebook post, Mr Manteaw gave a breakdown of the total amounts of oil revenue that has not been accounted for under the NPP government since it assumed power in 2017.
Below is the breakdown for the unaccounted oil money
2017 = GHC 400,914,441
2018 = GHC 251,377,870.01
2019 = GHC 1,479,896,300.00
Total amount of oil money the government has been unable to account for = GHC2,132,188,611.01
In June this year, the Public Interest and Accountability Committee (PIAC) disclosed that an amount of GHC1.5 billion petroleum revenue could not be accounted for in the 2019 fiscal year.
According to the committee, out of the 2.7 billion cedis accrued into the annual budget funding amount, the state only used 1.2 billion cedis with the remaining 1.5 billion not utilized and not accounted for.
Technical Manager for PIAC Mark Agyemang told Starr News “we do not actually have any clear explanation on this. They asked the ministry for an explanation, and as at the time we were filing the report the ministry couldn’t provide us with an explanation.”
He added “and mind you this is not the first time, it started from somewhere 2013, the annual budget funding amount were not utilized and were not accounted for. But then this is the first time consecutively in terms of year that it has been three years running. The first time was in 2017 and now it has grown to 1.5 billion Ghana cedis. And the question one would ask is where is the money?”.
“Because these monies were actually programmed for certain projects or activities to be undertaken. Have they been taken, and even if they are not taken, where is the money programmed for such activities?”