NationalTop story

Ghana bagged $8.8bn oil money between 2011 and 2022 – PIAC report

Ghana bagged $8.8bn oil money between 2011 and 2022 – PIAC report

Types of Driver’s license and their meanings

Data from the Public Interest and Accountability Committee (PIAC) shows that Ghana’s total petroleum revenue between 2011 and 2022 amounted to US$8.8 billion, with the year 2022 recording the highest realized petroleum revenues in the Petroleum Holding Fund (PHF).

The total petroleum revenue in 2022 is the highest for a single year since petroleum production began in Ghana, with a figure of US$1.43 billion.

The least revenue for the years under review was recorded in 2016 when some US$247,000 was generated.

Despite this development, the country’s Surface Rental Arrears continue to rise.

It increased from US$2.58 million in 2021 to US$2.77 million in 2022, with 65 percent (US$1.80 million) owed by four contractors whose Petroleum Agreements were terminated in 2021, according to the PIAC report.

The report further notes that efforts made by the Ghana Revenue Authority to retrieve the arrears are yet to yield the desired results.

Government suspends teacher transfers | Check for reason

By: Edna Agnes Boakye

Filasco News

Filasco DeGeneral: Broadcast journalist: #0245405110# for your publications. GOD is my helper💯

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button