Conduct Value For Money Audits For Oil Funded Projects – ACEP

The Africa Centre for Energy Policy (ACEP) has engaged various Stakeholders within the Sekondi-Takoradi Metropolis on a Value for Money Analysis of oil-funded projects to share lessons learnt from ACEP’s tracking of the country’s oil revenue utilization.

Addressing the media, the Executive Director of ACEP, Benjamin Boakye, expressed worry over the manner in which some of these oil-funded projects are abandoned Addressing the media, the Executive Director of ACEP, Benjamin Boakye, expressed worry over the manner in which some of these oil-funded projects have been abandoned, as well as the poor execution of same by the respective contractors. He also questioned the quality of such projects and the manner in which the contractors in question were selected.

Mr. Boakye indicated that the Centre is building a dossier on such projects to push for the subsequent prosecution of the contractors involved.

He further called for the re-evaluation of such projects through proper value for money audits to ensure that they serve their respective purposes.

Oil-funded project monitoring and value for money analysis form a key part of ACEP’s resolve to ensure that there is accountability and transparency in the provision of critical national infrastructure for the development of deplorable communities.

The engagement had participants from players in the Oil and Gas industry, civil society, local activist, traditional rulers, religious institutions, the disability organizations and the media.