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A deputy Minister of Finance, Dr John Kumah, has called on the Public Interest and Accountability Committee (PIAC), to lead an advocacy to increase interest in crude oil exploration in the country.
He said such a campaign by PIAC, which was in line with its mandate, could help improve the nation’s oil production from about 10 per cent to 60 per cent.
Dr Kumah, who made the call at a ceremony organised by PIAC in Accra yesterday, added that an increase in the country’s stake in oil exploration would enable the government to generate more revenue for development.
“Lately, there have been some discussions in the public space by traditional rulers and other concerned citizens about the management and use of oil revenue for development.”
“Some people have even questioned why the nation's interest in the extractive industry was limited to about 15 per cent and not 60 per cent.
I think that discussion must be taken over by PIAC because it knows the interest and limitations of the government,” Dr Kumah said.
The event was to unveil a new corporate identity of PIAC aligned to its renewed hope to ensure transparency and accountability in the country's petroleum revenue.
It included the introduction of a corporate logo, a redesigned website and an integrated data dashboard to provide PIAC with the needed recognition and legitimacy to carry out its functions.
PIAC’s corporate website is one of the key tools that it uses to engage the public.
Dr Kumah congratulated PIAC on the initiative and said that the government was happy with the work of PIAC and its take in the management of the country’s oil proceeds.
The Chairman of PIAC, Prof. Kwame Adom-Frimpong, said the introduction of the new corporate identity would further enable his outfit to promote transparency and accountability in the petroleum revenue management space.
He said over the years, PIAC had campaigned for the efficient utilisation of petroleum revenues and that the new identity would help them discharge their responsibilities more effectively.
The Chairman in charge of Public Affairs and Communications Sub-committee of PIAC, Eric Defor, said that the committee in its formative years chose the coat of arms with its name beneath as their primary logo.
He, however, said the use of that identity over the last 12 years had not communicated its purpose well, hence, the need for the re-branding to give PIAC the needed recognition and legitimacy in carrying out its functions.
“Currently, it is difficult to associate PIAC with anything petroleum-related because nothing in its name or previous logo suggests that.
“The committee, therefore, realised the need to make its role in the petroleum revenue management space more prominent in the new logo with key elements that convey its mission, while maintaining its legitimacy as a statutory institution,” Mr Defor added.
