US$655m oil cash “vanished into thin air” under Akufo-Addo – Minority


Standard News of Wednesday, 12 February 2020

Supply: classfmonline.com

John Jinapor, former minister for powerJohn Jinapor, previous minister for electricity

The in Parliament has reported US$655 million of Ghana’s oil revenue can however not be accounted for by the -Addo administration, per studies by the Community Desire and Accountability Committee (PIAC) stories of 2017 and 2018.

In a presentation on Ghana’s oil sector by a Deputy Power Minister in the erstwhile Mahama administration, Mr John Jinapor reported: “Now, if you seem at the PIAC report, it tends to make it clear that there is a absence of transparency and accountability within just the oil sector, in phrases of accounting for our oil revenue”.

For instance, he stated: “During President Mahama’s time, we adopted the General public Money Administration Act and expended a chunk of that income on bodily infrastructural projects that come less than money assignments but underneath Akufo-Addo, they are paying much less than 50 for every cent of petroleum means on capital expenditure.

“Equally, the PIAC report of 2017 and 2018 – and this is a public doc – state categorically that US$655 million are not able to be accounted for among 2017 and 2018”, Mr Jinapor reported at a forum in Accra on Wednesday, 12 February 2020.

“What it means”, he pointed out, “is that US$655 million of the taxpayers’ funds has into thin air”, introducing: “This is unfortunate”.

“We’ve raised it on the ground, we have demanded answers and nonetheless this authorities is evasive when it will come to this”.

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