The Public Interest and Accountability Committee (PIAC) is set to take inventory of all uncompleted petroleum revenue-funded development projects across the country and push for their completion.
The Technical Sub-Committee Chairman, PIAC, Samuel Bekoe, who made this known, said the committee had taken it upon itself to take stock of the number of uncompleted projects, their level of completion and their value as well as which adminstrations are more prudent in the use of resources.
“We are going to do this in the context where we will align it with the different political administrations that such projects commenced, so that everyone will know how much money we have invested in such projects that are still not completed” he said.
Mr Bekoe made the remarks during a public forum organised by PIAC in Bekwai in the Bekwai Municipality in the Ashanti Region.
PIAC is established under section 51 of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815) to provide additional oversight of the management and use of Ghana’s petroleum revenues.
The Committee, in accordance with its second mandate of providing space and platform for public debate on the spending of petroleum revenue, as part of the forum presented and discussed its 2025 Annual Report on the management and use of petroleum revenue in Ghana.
He mentioned that notable among the projects were the Agenda 111 hospital projects dotted across the nation and currently at various stages of completion and the Jubilee markets which were uncompleted as well.
“We will compile all the projects and submit it to the government for concrete steps to be taken to complete them for the benefit of the citizenry. This move is intended to ensure proper utilisation of the funds” he stated.
Findings
The main findings contained in the 2025 report, indicated that the nation witnessed a 9.4 per cent compounded annual decline rate of petroleum production which reflected in revenues as well.
“In 2019, we recorded petroleum production of 71 million, but in 2025 the total production recorded was 37 million.
The date shows that we lost almost half of our oil production” he stated.
Further exploration
To tackle the current petroleum production, he underscored the need to attract more investors into the country’s petroleum sector to undertake more exploration to shore up production, saying “we can only achieve this if government can work with the Petroleum Commission to bring in new investors”.
In ensuring quality of projects, Mr Bekoe urged Ghanaians to take keen interest in the execution of projects to stand the test of time, stressing “it is our own taxes so we urge public accountability by citizens.
Accra-Kumasi Expressway
Responding to a question whether the government’s decision to use petroleum revenue to fund the Accra-Kumasi Expressway and not the free SHS policy, the Vice Chair, PIAC, Edward Yaw Afriyie, said the government’s decision was not out of place as there were other revenue sources that it could fall upon for the free SHS policy.
The Municipal Chief Executive for Bekwai, Salifu Issaka, in a remark, commended PIAC for the forum as it had enlightened the participants about happenings within the petroleum sector, particularly the utilisation of funds.