ACEP educates JHR members on oil and gas revenue

Story by Audrey Doreenda-Ofori

Dr. Ishmeal Ackah, The Head of Policy Unit at the Africa Center for Energy Policy (ACEP) at a seminar organized by the JHR-AUCC on October 8 enlightened members of the club and students on “citizenship rights to oil and gas funds”.

Dr. Ishmeal Ackah, from ACEP addressing an question.

Referring to article 1S1 of the 1992 constitution of Ghana which states that “the sovereignty of Ghana resides in the people of Ghana in whose name and for whose welfare the powers of government are exercise”, he explained that the government, who are the managers of our lands and other resources, do so on the behalf and for the benefits of all Ghanaians. Article 57S1 of the constitution of Ghana states that “citizens hold the rights to all lands and natural resources in Ghana and all accountability are to be delivered to them”, and this according to him implies that citizens have the rights to oil and gas revenue as part of the natural resources.

One important point that proves the essence of his speech could be found in Act 815Section 42 of the Petroleum Revenue Management Law. It states that “ petroleum holding funds, petroleum world funds and Ghana petroleum funds are all public funds” therefore, citizens have the rights to know how much revenue the government earns in oil production, what the funds are used for and any information thereof.

Audrey Doreenda-Ofori, one of our newest members taking notes.

He revealed that Ghana discovered oil in the 70s but began producing it in commercial quantities in June 2007. Going on, Dr. Ackah explained that 26% and 18% of the total oil revenue were allocated to GNPC in 2013 and 2014 respectively as they are the national oil and gas coffers. He stated that the greater percentage of what is left goes to support government budget annually. According to him, a percentage of the oil revenue goes into developmental projects citing the rehabilitation of the Tano irrigation dam and the Komenda Fisheries as projects being funded with oil revenue.

Dr. Ackah and Mrs. Gyamfi, JHR-AUCC patron.

Ending the seminar, the communications officer for ACEP, Nana Owusu Sekyere stressed the need to have knowledge and adequate information on oil and gas in the country as according to him will enable journalist to report on this sector analytically and effectively.

Nana Owusu-Sekyere of ACEP