H.E. John Dramani Mahama has expressed dissatisfaction about the Government’s decision to divert $100 million from Ghana’s petroleum fund without regards to the provision of the law.
“News that some $100 million has been diverted from petroleum funds for unapproved expenditure is most disconcerting.”
H.E. John D. Mahama said that, section 3 of the Petroleum Revenue Management Act (Act 815) is explicit that all Petroleum revenue due the Republic derived from whatever source shall be assessed, collected and accounted for by the Ghana Revenue Authority.
Again, he said Section (15) of the Petroleum Exploration and Production Act (Act 919), is also clear that “Any borrowing exceeding the cedi equivalent of thirty million United States Dollars for the purpose of exploration, development and production shall be approved by Parliament and shall be in consonance with the Petroleum Revenue Management Act.”
In a post he made on his official Facebook page, he said there could not be any excuse or reason to warrant breaking the laws of the land.
“There can be no justification for diverting revenues accruing from the nation’s share of petroleum resources into any other account aside the PHF.”
He therefore called on the Mr. Ken Ofori Ata to refund the the money immediately.
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“The Minister for Finance must as a matter of urgency repatriate all such illegal payments back into the PHF without delay as there is no record to confirm parliamentary approval on any such loans acquired by GNPC in their work programme.”
Read Also >>> PETROLEUM REVENUE MANAGEMENT ACT (ACT 815)
