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Ghana Gas, 4 others fail to pay US$310.34m into Petroleum Holding Fund — A-G report
The Ghana National Gas Company Limited (Ghana Gas) and four other entities have failed to pay a total of US$310.34 million into the Petroleum Holding Fund, the Auditor General (A-G), Mr Daniel Yaw Domelevo, has said in his report to Parliament.
The A-G report was on the management of petroleum funds for the financial year ended December 31, 2018.
According to the report, Ghana Gas owed US$308.77 million for gas supplied by the Ghana National Petroleum Corporation (GNPC).
The A-G estimated the amount of penalties due from the default to be US$10.79 million as per section 3(4) of the Petroleum Revenue Management ACT 2011 (Act 815).
Section 3 subsection 4 of Act 815 states, “where the liability of an entity to make a payment is not discharged on or before the due date, the entity shall pay as a penalty, an additional five per cent of the original amount for each day of default or the default rate established under any other law, whichever is higher.”
The A-G recognised that, the other outstanding amount of US$1.57 million were as a result of unpaid surface rental by four petroleum exploration entities, namely, GOSCO/Heritage Exploration and Production Ghana Limited, Sahara Fields Energy Limited, Britannia-U Ghana Limited and Swiss African Oil Company Limited.
The implication of the failure of Ghana Gas and the four other entities, the A-G said, had led to loss of income to the state, a situation which could have been averted through prompt payment.
“There is a loss of income which would have been earned, if the funds had been paid on time and invested,” Mr Domelevo said in his report.
Against the background of the findings from the audit conducted, the A-G recommended that all monies assessed as due and outstanding to the Petroleum Holding Fund should be promptly collected.
In addition, the A-G endorsed that, any late payments should attract the right interest as stipulated by Section 3(4) of Act 815.
The report also found that, the Investment Advisory Committee of the Petroleum Fund Management was not meeting, as Act 815 requires.
Per Act 815, the Investment Advisory Committee was supposed to meet at least once every quarter, but that did not happen, according to the report by the A-G.
“We were unable to confirm that the IAC met during the year ended December 31, 2018, as there were no minutes available in line with Section 33 of Act 815,” the A-G said.
To this effect, Mr Domelevo recommended that, the IAC should be reconstituted with individuals who can make time to regularly attend to the business of the Committee.
The report, presented to Parliament in accordance with Regulation 29(7) of the C.I.70, was undertaken by PriceWaterHouseCoopers for and on behalf of the Auditor-General.
Source: Ghanaian Times
Entertainment
Demolition of Fantasy Dome unfair — Mark Okraku-Mantey
Months after the Fantasy Dome was dismantled to make way for construction at the Ghana International Trade Fair site, the Deputy Minister of Tourism, Arts and Culture, Mr Mark Okraku-Mantey, has expressed concern over the manner the facility was destroyed.
In an interview on Daybreak Hitz with Andy Dosty, Mr Okraku-Mantey criticised the handling of the dome’s dismantling, suggesting that it could have been done without causing damage.
“I don’t think that leadership gave instructions that they should do what happened. The structure was a prefab but I hear the people destroyed it. That one, we cannot defend it. It is unfair to him (owner). Sometimes, you give instructions and people will go and do things that will make you look bad,” he stated.
When asked about any punitive measure against the workers responsible for the destruction, Mr Okraku-Mantey clarified that the Trade Fair does not fall under his ministry.
He said he had previously contacted the owner, Leslie Quaynor, to discuss relocating the dome, and even suggested the National Museum as a potential site, though it was too small.
The demolition of the 20,000-seater Fantasy Dome occurred on March 16, 2024.
According to Dr Agnes Adu, CEO of the Ghana Trade Fair Company Limited, the action was taken after multiple notices were given to Quaynor to vacate the premises for redevelopment, as per their tenancy agreement.
Dr Adu noted that all previous tenants had complied except for the Fantasy Dome.
Quaynor, in an interview with JoyNews, confirmed that his lease had ended, and was in the process of relocating the dome.
He had requested an extension, which was denied, leading him to seek a writ and an injunction from an Accra High Court to halt the demolition.
Despite this, the demolition proceeded, causing significant damage to the structure.
Quaynor described the incident as a major setback, not only for his business but also for the entertainment industry, which relies on venues like the Fantasy Dome.
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Youth urged to take proactive stance on ozone depletion
•Mr Joseph Amankwah, first counting from, some officials from EPA and UNDP in group picture with the student
Mr Joseph Amankwah, the Director of Ozone Layer and Climate Change at the Environmental Protection Agency (EPA), has urged the youth to take a proactive stance on issues related to ozone depletion, emphasising that their future would be most affected by its consequences.
Speaking during a student engagement event at the Ghana Secondary School (GHANASS) in Koforidua, he highlighted the critical role young people played in tackling climate-related challenges.
Mr Amankwah explained that human activities, such as the use of certain chemicals, were significantly contributing to the depletion of the ozone layer and driving climate change.
He said it was important to educate the youth on these issues, encouraging them to share this knowledge with their families to foster a broader understanding and active participation in climate action.
He urged the education sector to integrate lessons on the ozone layer, the causes of its depletion, and its links to climate change into the curriculum.
The event, organised by the EPA in collaboration with the United Nations Development Programme (UNDP), was designed to foster environmental awareness and promote a sense of responsibility among young people.
Mr Amankwah noted that ozone layer depletion was affecting everyone, including children, as it alters weather patterns and threatens the natural environment.
He highlighted the need for young people to develop ‘green skills’ to adapt to the challenges of climate change and to understand ways to combat it.
He added that World Ozone Day, observed every September, would focus on youth engagement in environmental issues, to help them understand the long-term consequences of ozone depletion and climate change.
Mr Amankwah also discussed the harmful impact of chlorofluorocarbons (CFCs), a major chemical contributor to ozone depletion.
He explained that household appliances such as refrigerators and air conditioners were common sources of CFC emissions in Ghana.
Many uncertified technicians work on these appliances, often releasing harmful chemicals into the atmosphere due to improper handling, he noted.
To address this, he urged appliance repairers to obtain proper certification and training, emphasising that unqualified repairs not only harm the environment but also endangered public health.
From Ama Tekyiwaa Ampadu Agyeman,
Koforidua
