The value of any resource is not only measured by what it produces, but by how responsibly it is managed. Anything entrusted to human hands carries a responsibility — a responsibility to protect it, use it wisely and ensure that it benefits those it is meant to serve.
As the Bible puts it in 1 Corinthians 4:2, “Moreover, it is required of stewards that they be found faithful.” Although this scripture speaks within a spiritual context, its message carries a wider lesson for governance: those entrusted with valuable resources must be accountable for how they manage them.
This principle is particularly relevant to Ghana’s natural resources. From gold to oil, the question has never only been about what lies beneath the ground, but whether these resources will be managed in a way that improves the lives of citizens and benefits generations yet unborn.
When Ghana discovered oil in commercial quantities in 2007, the excitement was not only about the billions of cedis expected from petroleum revenues. It was also about a difficult question that has followed many resource-rich countries: how do you ensure that natural wealth benefits citizens and does not become a source of missed opportunities?
That question led to the creation of the Public Interest and Accountability Committee (PIAC) in 2011 under the Petroleum Revenue Management Act, 2011 (Act 815).
Unlike a typical government agency, PIAC was designed as a citizens’ oversight institution. Its mandate was to monitor how petroleum revenues are managed, provide independent assessments and create a platform for public debate on the use of Ghana’s oil resources.
The composition of PIAC itself reflects this intention. Parliament did not design it to represent only government interests. It brought together voices from different sections of Ghanaian society, including religious groups, traditional authorities, professional bodies, civil society organisations, journalists, researchers and industry representatives.
The inclusion of bodies such as the National House of Chiefs, the Association of Queen Mothers, Christian groups, Muslim groups, the Ghana Journalists Association, the Ghana Bar Association, the Institute of Chartered Accountants Ghana and civil society organisations sends a clear message: petroleum resources are not the property of government alone; they belong to the people of Ghana.
But more than a decade after its establishment, PIAC’s journey raises an important question: is creating an accountability institution through an Act of Parliament enough, or must Ghana do more to make such institutions truly effective?
It is important to acknowledge that PIAC has played a significant role in Ghana’s petroleum governance.
Since its establishment, the Committee has consistently produced annual and semi-annual reports assessing how petroleum revenues are collected, allocated and used. These reports have provided journalists, researchers, civil society organisations and citizens with information to question decisions surrounding Ghana’s oil wealth.
This role is especially important because accountability begins with information. Citizens cannot demand answers about resources they cannot track.
Through its reports and engagements, PIAC has helped move petroleum revenue discussions beyond government offices and into the public space.
However, accountability is not achieved simply because reports are published. An institution can only be as effective as the support and resources available to it.
One of the biggest challenges facing PIAC is the issue of funding.
The irony is difficult to ignore: an institution created to monitor billions of cedis in petroleum revenues has itself had to raise concerns about the resources available for its own operations.
PIAC has publicly engaged government over funding challenges, arguing that delays and inadequate financial support affect its ability to effectively carry out its mandate.
This raises a fundamental question: how can an institution effectively monitor the management of national resources if it does not have sufficient capacity to conduct its own monitoring activities?
Providing funding for PIAC should not be viewed as government favour. It should be seen as an investment in strengthening accountability.
Beyond funding, another challenge is public awareness.
PIAC’s mandate is built on the idea that citizens should participate in discussions about petroleum revenues. But an accountability institution cannot achieve its full purpose if its work remains limited to policy circles and technical discussions.
A communication strategy developed for PIAC identified awareness as an area requiring attention, showing that while many people may know about Ghana’s oil sector, knowledge of PIAC itself remains a challenge.
This does not necessarily mean citizens do not care about Ghana’s resources. Rather, it highlights the need for institutions to communicate their relevance in ways ordinary citizens can understand.
PIAC’s efforts to produce citizen-friendly versions of its reports show that the Committee recognises this challenge. Accountability is not only about producing documents; it is about ensuring that citizens can understand those documents and use the information to demand better governance.
The concerns surrounding PIAC are not only public discussions. They have also been examined academically.
A University of Ghana research study titled “An Institutional Assessment of the Public Interest and Accountability Committee (PIAC) in Ghana’s Oil and Gas Sector” examined PIAC’s operations against its legal mandate.
The study found that PIAC has contributed significantly to improving transparency in Ghana’s petroleum sector. However, it also identified institutional challenges that affect the Committee’s ability to achieve full accountability.
This finding captures the reality of PIAC.
The institution itself is not the problem. In fact, its creation was a major step forward in Ghana’s approach to natural resource governance. The challenge is ensuring that it has the independence, resources and public engagement required to maximise its impact.
A Lesson Beyond Oil
PIAC’s existence also raises broader questions about how Ghana approaches accountability across its natural resources.
Gold has been at the centre of Ghana’s economy for decades and remains one of the country’s most important exports. While mechanisms such as the Ghana Extractive Industries Transparency Initiative (GHEITI) promote transparency in the mining sector, Ghana has not created a petroleum-style public oversight body specifically dedicated to tracking gold revenues in the same way PIAC does for oil.
This comparison does not suggest that mining lacks accountability mechanisms. Rather, it raises a bigger question: should citizens have equally strong oversight structures for all resources that contribute significantly to national wealth?
Whether the resource is oil, gold or any other national asset, the principle should remain the same: citizens deserve transparency, accountability and institutions capable of protecting the public interest.
The true measure of an accountability institution is not that it exists, but that it is able to perform its mandate effectively and independently. PIAC represents one of Ghana’s boldest governance innovations in the petroleum sector, bringing citizens into conversations about how one of the country’s most valuable resources is managed.
Yet, as its own experience has shown, legislation alone cannot guarantee accountability.
For PIAC to fulfil the vision Parliament had when it was established, it must be adequately resourced, widely understood by the public and supported by a genuine national commitment to transparency. Strengthening PIAC is not about strengthening one institution; it is about strengthening public trust in how Ghana manages its natural wealth for both present and future generations.
Ultimately, the question is not whether Ghana has an oil watchdog. The real question is whether we are prepared to give that watchdog every opportunity to protect the interests of the people it was created to serve.
If Ghana has the courage to create institutions to protect its natural resources, do we also have the commitment to strengthen those institutions enough to truly protect the interests of the people?
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Story by Erica Odeenyin Odoom | univers.ug.edu.gh
