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Business News of Thursday, 6 June 2024

    

Source: GNA

Government encouraged to stop co-mingling of oil funds

An oilfield in Ghana An oilfield in Ghana

Emerita Professor Elizabeth Schandorf, Chairperson of PIAC, has urged the government to prioritize funding projects with oil revenues instead of co-mingling funds.

She made this comment during a visit to oil-funded projects in the Western Region, where she observed that projects with multiple funding sources had stalled due to cost overruns, delays, and completion date issues.

Professor Schandorf emphasized the need for dedicated funding to ensure Ghanaians see tangible benefits from oil revenues.

The team visited various projects, including railway and road construction, and a health service center, highlighting the challenges faced due to funding issues.

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