Deputy Finance Minister, Dr. John Kumah, has encouraged the Public Interest Accountability Committee (PIAC) to take a leading role in advocating for the reevaluation of current petroleum contracts. The goal is to ensure that Ghana maximizes its gains from its oil production.Dr Kumah made the call at the unveiling ceremony of a new PIAC logo, a redesigned website, and a data dashboard on Wednesday, August 16, 2023.

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He noted that although the government is eager to enhance its share in the extractive industry, certain "interests and constraints" hinder the ease of modifying the agreement terms.“Some people have questioned why our interest in the extractive industries is limited to 10 per cent or 20 per cent of the resources and not 55 per cent or 60 per cent.

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“When such issues are pushed vehemently and raised by PIAC, I believe as a nation we can see changes in the terms. It is not easy based on the contract we have signed but everything is possible once there is a will” he said.Mr. Kumah expressed that the Government views the endeavors of PIAC as supplementary to the country's progress in effectively using and overseeing oil revenue for development purposes.

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“I do not think that government sees your contribution as a tango between what government does and what you say. In the end, the objective is for the nation to do better with our oil resources. Every criticism we make should be aimed at making the system better,” he said.

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