Minerals revenue ought to be distributed properly – ACEP

The Executive Director of Africa Centre for Energy Policy (ACEP) Dr Mohammed Amin Adam has called for a comprehensive mineral revenue management law to ensure the effective utilization of the resources.According to him, government ought to develop principles for applying mineral revenues to high impact public investment projects at the national and community level, and institute transparent and accountable governance of mineral revenues.

Speaking at a forum on the development of a mineral revenue management framework, Dr.Adam wondered why during the recent global financial crisis, prices of gold, cocoa and oil reached their peak levels, yet the country did not benefit from the price hikes.However he called on government to institute mechanisms for insulating the economy from the effects of commodity price volatility in the sector.

The forum brought together stakeholders in the sector to build grounds on the best way to manage the country’s mineral revenue.

#Business #News #news