The Executive Director of the African Centre for Energy Policy (ACEP), Mr Mohammed Amin Adam, has called on Ghanaians to be vigilant on how effective the country�s oil money is being disbursed for development.
He said the oil proceed has been so significant in executing projects such as education, which has received GH₵270 million out of the GH₵5.8 billion allocated for various projects.
He also revealed that 23% has been allocated to agric and 78% to fisheries and aquaculture.
Mr Adams advised that citizens can also put the government on his toes by keeping check on various projects allocated to be executed by asking questions pertaining to the progress of projects.
He was speaking at an event organised by ACEP and the Financial Accountability and Transparency Africa (FAT-AFRICA), and sponsored by OXFAM America.
It focused on the 2014 budget expenditure of extractive revenues and development aid in Ghana.
In his presentation, Mr Adams said government allocates a substantial amount of budgetary resources every year to projects, yet the country has not seen much development from these resources.
In his presentation, he revealed that budgetary resources are from three main sources: tax, revenue, and donor financing.
Touching on the theme for the function, which is �Linking Expenditure with Priorities in Pro-poor Sector,� which includes health, agriculture and education, he mentioned that government has extracted $2 billion in three years from oil and gas.
Mr Kwame Gyantoa, general secretary of the Convention People�s Party (CPP), called for value addition to commodities before export to reduce the rate of unemployment in the country.
He warned that signing the EPA with the European Union (EU) would end the country�s industrialisation dream, noting that goods would be dumped on the Ghanaian market.
�We do not seem to have the kind of quality the European market expects, so how do we export?� he asked.
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