Government Must Dutifully Account On Natural Resource Revenues To Citizens

An Economist with the Natural Resource Governance Institute and Fellow at the Central European University, David Mihalyi, has underscored the need for citizens to continue to ask questions regarding the utilization of revenues from the oil, gas and mining sectors to ensure that the nation derives maximum benefits from the extraction of natural resources.

He said demanding transparency and accountability from the government is important adding that oversight institutions like Parliament and civil society groups must not relent in their efforts at getting government to take the best decisions in the interest of the citizenry.

Mr Mihalyi was speaking in an interview with GBC’s Parliamentary Correspondent Dominic Hlordzi in Budapest, Hungary at the sideline of a training Course on Oil, Gas and Mining Governance organized by the Natural Resources Governance Institute and the Central European University for experts across the globe.

According to extractive governance experts, when revenues from natural resources are properly managed and governments publicly account to the citizens, it can lead to sustained prosperity.

Scrutinizing government officials and demanding accountability are considered strong deterrent against corruption and an incentive for improved performance across all levels of government.

David Mihalyi believes opening up to the citizens on how contracts are awarded to mining and oil companies and how revenues generated from the sector are spent are very essential.

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