Yakani calls for revenue transparency following increase in oil output
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
Following an announcement of increased oil production, civil society activist Edmund Yakani is urging the Ministry of Petroleum to reveal the financial income derived from crude oil sales. While acknowledging the positive news of production reaching 174,000 barrels daily, Yakani emphasized that transparency should extend beyond output figures to include revenue generated.
He stated that disclosing these financial details is crucial for enhancing public accountability in managing the nation's petroleum wealth. Yakani also advocated for investing oil revenues in other economic sectors, such as agriculture, to foster diversification and long-term growth, and called for the settlement of civil servant salary arrears.
This call for revenue transparency is important because it promotes good governance and ensures that the country's natural resource wealth is managed effectively and benefits the public.
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