Prioritise social welfare in petroleum revenue use - Groups tell govt
Disability rights advocacy groups have decried the lack of priority given to social welfare in the allocation of petroleum revenue.
Advertisement
The groups, under the auspices of the Ghana Federation of Disability Organisations (GFD), made their views known yesterday at a forum organised by the Public Interest and Accountability Committee (PIAC).
According to the groups, the absence of social welfare from the priority areas for the allocation of the Annual Funding Amount (ABFA) of the Petroleum Holding Fund (PHF) could negatively affect the long-term development of the country.
“If a nation fails to make a deliberate attempt to support vulnerable people, then that nation cannot grow because such vulnerable people will be on the streets begging, and become a liability to society,” the President of the GFD, Joseph Atsu Humadzi, said.
Forum
PIAC is a citizen-led body created under the Petroleum Revenue Management Act, 2011 (Act 815) (PRMA) to promote accountability and transparency in the utilisation and management of petroleum revenues.
It also has the mandate to provide a platform for the public to voice their opinions on the management and use of petroleum revenues, monitor and evaluate compliance with Act 815 and also provide an independent assessment on the management and use of petroleum revenues.
The forum with persons with disabilities was in fulfilment of PIAC’s mandate to sensitise the public to the management of the country’s petroleum revenues as well as provide a platform for the public to give their opinions on the utilisation of the revenues.
The Chairperson of PIAC, Emerita Professor Elizabeth Ardayfio-Schandorf, said the forum was part of a continuous process by PIAC to ensure that all spheres of society were adequately informed about the management of petroleum resources.
Other Trending Stories
“These engagements are also held at the regional and district levels to ensure that all stakeholders are heard. Our doors are always open for all stakeholders to make their contributions and we would continue to sustain them in line with our mandate,” she said.
Priority areas
Under Act 815, petroleum revenues for the country must be deposited into the Petroleum Holding Fund (PHF) out of which distribution is made to the Annual Budget Funding Amount (ABFA), the Ghana National Petroleum Corporation (GNPC) and the Ghana Petroleum Funds (GPFs), which is made up of the Ghana Heritage Fund (GHF) and the Ghana Stabilisation Fund (GSF).
The 2023 PIAC reports showed that in 2023, the total petroleum revenue deposited into the PHF was US$1,062,323,419.12, with US$485,971,963.64 going to the ABFA, GNPC receiving US$245,588,510.58, and GSF and GSH receiving US$ 231,363,368.78 and US$ 99, 155, 729.48.
With respect to the ABFA, the PRMA provides that it should centre on 12 priority areas- health, infrastructure, alternative energy sources development, potable water and sanitation, social welfare, rural development, housing delivery, strengthening of institutions, environmental protection, public safety and security, agriculture, industry, education, science and technology.
The law further stipulates that in the absence of a long-term national development plan, the Minister of Finance must select four of the areas and prioritise them within a given