Yakani calls for disclosure of oil revenue figures
Civil society activist Edmund Yakani has called on the Ministry of Petroleum to disclose the amount of revenue generated from crude oil sales, saying transparency in the sector should go beyond announcing production figures. Yakani, the Executive Director of Community Empowerment for Progress Organization (CEPO), welcomed the government’s announcement that crude oil production has increased to 174,000 barrels per day. However, he said the public should also be informed about
Civil society activist Edmund Yakani is urging the Ministry of Petroleum to reveal the financial earnings from the nation's crude oil exports. While acknowledging the recent increase in daily oil production to 174,000 barrels, Yakani emphasized that transparency requires disclosing revenue figures, not just output statistics. He believes this information is crucial for public accountability in managing the country's petroleum wealth and for informed decision-making regarding its investment.
Yakani also advocated for the reinvestment of oil revenues into non-oil sectors, particularly agriculture, to foster economic diversification and sustainable growth. Additionally, he called for the settlement of overdue salary payments to civil servants and urged parliamentarians to actively pursue transparency in oil revenue reporting and gold sector management.
Disclosing oil revenue figures is essential for ensuring accountability in resource management and for citizens to understand how national wealth is being utilized.
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