Last Updated on Sunday, 3 August 2025, 10:34 by Writer
A Partnership for National Unity (APNU) on Saturday promised Guyanese detailed accountability of how oil revenues would be spent and a guaranteed 25 percent savings of all earnings from the sector.
“The APNU government will save a minimum of 25 percent of our oil money every year,” Dr Terrence Campbell, a member of the Investment Committee of the Natural Resources Fund (NRF), told a well-attended rally in New Amsterdam, a traditional stronghold of the People’s National Congress Reform (PNCR), the dominant APNU partner.
He said the government merely dispatches requests for hundreds of millions of dollars “with no proper reason and they spend it all out.” But he said if the APNU clinches victory in the September 1 general and regional elections, the monies would be fully accounted for like what is done in Ghana and other countries. “The APNU government will account for every single cent of the oil money that we collect. We will account to you because it’s your money,” said Dr Campbell, a longtime city businessman.
In January, 2025, the NRF had US$3.1 billion from principal deposits and interests from financial investments.
He said the incumbent People’s Progressive Party Civic (PPPC) administration spends 95 percent of Guyana’s annual oil revenues, up from 75 percent “and they got drunk on the money.”
Dr Campbell, who had flirted with A New and United Guyana (ANUG) in its early years, said he was picked by PNCR-APNU Leader and presidential candidate, Aubrey Norton to assist with managing the finance sector should they become the new government.
The APNU candidate currently has a case before the High Court on the same issue of detailed accountability of oil revenues. However, the PPPC has argued that the existing mechanisms such as the National Budgetary debates and the House bipartisan Public Accounts Committee allow for scrutiny. The government had said the oil revenues were being comingled with other funds and then allocated based on priorities.
Discover more from Demerara Waves Online News- Guyana
Subscribe to get the latest posts sent to your email.
