GNPC’s financial viability in jeopardy due to govt’s $1bn debt – PIAC

The Public Interest and Accountability Committee (PIAC) is concerned about the financial viability of the Ghana National Petroleum Corporation (GNPC) if it loses cash allocations from the Petroleum Holding Fund by 2026.

PIAC's Technical Manager, Mark Agyemang, noted that GNPC is owed nearly $1 billion by the government and other state-owned enterprises, causing significant financial strain. He advocates for a review of the law establishing GNPC to improve its financial independence and governance, suggesting that a more diverse board could help the corporation resist government demands for financial support.