Part of Ghana’s oil revenue should be invested in renewable energy, a Former Chairman of the Public Interest and Accountability Committee (PIAC), Dr Steve Manteaw has proposed.
He said by strategically, investing in renewable energy technologies like solar power, the country could reduce its reliance on traditional fossil fuels, thereby contributing to both economic and environmental sustainability.
He made the proposal when he interacted with journalists at the sidelines of the launch of the maiden edition of the simplified version of PIAC report on the management and use of oil revenues.
Named “Citizen’s Version,” it is part of efforts to provide citizens with relevant information on how petroleum revenues are used to enable them demand accountability.
The 60-page maiden edition uses infographics, illustrations and simplified narratives to explain contents like petroleum production, sales, utilisation and allocations in the 2022 report.
The 12 priority areas from which oil revenue spending are selected are agriculture and industry, education, science and technology, potable water and infrastructure development.
The rest are public security and social welfare, strengthening institutions, healthcare delivery, rural development, housing delivery, alternative energy and environmental protection.
Dr Manteaw said a reassessment of the selected areas to include renewable energy would enhance attractiveness for projects at the risk of losing European Union (EU) funding due to EU focus on green projects and energy transition.
On the proposed emission tax, he advocated its withdrawal for broader consultation with key industry considerations for a comprehensive approach.
Dr Manteaw, who is currently the Co-Chair of the Ghana Extractive Industry Transparency Initiative (GHEITI), commended PIAC for the Citizen Report as it would help enlighten the masses on use of their national resources.
Launching the report, the Paramount Chief of Asante Asokore, Prof. Nana S. K. B Asante, praised PIAC for breaking down a complex report into smaller to arm the public with information to demand transparency from duty barriers.
The traditional ruler, who is also a former President of the Ghana Academy of Arts and Sciences, said it was important that the citizens were not left behind in development of the country.
The PIAC Chairperson, Emerita Prof. Elizabeth Ardayfio-Schandorf, said the Citizens’ Version reflects PIAC’s commitment to provide citizens with essential information to promote transparency and accountability.
She said transparency and accountability remained critical to ensure prudent financial management, especially for an impactful sector like the petroleum industry.
“We believe that getting the general public informed is the foundation of a transparent and accountable governance structure for our petroleum revenues,” she said.
The Chairperson of the National Commission for Civic Education (NCCE), Ms Kathleen Addy, said the initiative was in line with the Commission’s mandate of getting the citizens informed about issues that concern them.
BY JONATHAN DONKOR
