Sentences with phrase «of oil revenues»

Others preferred cash dividends on efficiency grounds, believing that individuals would be better able to make good use of oil revenues than government.

But the central government also needs the money and will be reluctant to surrender too great a share of oil revenues to the county administration.

It is not that much less silly to vote for it on the basis of oil revenue, which is short - term and volatile whichever way you look at it.

The law requires that 70 % of oil revenue goes into funding the country's annual budget, hence can not all be dedicated to one item as the president seeks to do.

In a bid to resolve this problem, Libya is spending billions of dollars of its oil revenues on the Great Manmade River project, which is pumping ancient «fossil» waters from beneath the Sahara and piping it hundreds of kilometres north to farms on the coast, where aquifers have become exhausted and salty.

Much as we support the use of oil revenue for financing education, we want government to recognise the significance of the Heritage Fund and not touch it».

Speaking to Citi News on the sidelines of a sensitization programme on the use of oil revenue at the Tamale Technical University, Miss Abubakari advised government to limit their expenditure to a few targeted projects in order to ensure better monitoring and utilization of the oil funds.

Wishing to more successfully preserve future revenues, Alaska amended its constitution to require a portion of the oil revenues be set aside in a savings fund for future generations.

She wrote, «In 2012, in addition to the serious issues of the oil subsidy fraud, tensions began to rise in FAAC meetings over the lower - than - projected disbursements of oil revenues to the Federation accounts.»

The Mahama - led administration came under heavy criticism after it spent 3.6 million of oil revenues in re-branding 116 Metro Mass Transit (MMT) buses in 2015.

In Angola, Global Witness has previously highlighted how the traffic of conflict diamonds funds UNITA's continued insurgency as well as questioning management of oil revenues by the Government.

In the face of strong pressure from below, the county government is likely to demand a greater share of oil revenues so that it is better placed to assuage frustration of voters.

Distribution of oil revenues is a fraught issue.

Previously, it was oil revenue that dominated the budget, but the negative shock in the decline of oil revenue makes government to start thinking differently, and they should continue in this path, even if in future oil price goes up.

One of the questions raised in the Q&A by Professor Neil MacFarlane was the influence of oil revenues on Sudan's governance.

Government had to continously revive the national budget on account of oil revenue shortfalls.

The stakes have risen with the recent discovery of oil in the country's Western Region, and all candidates have been quick to stress the need to avoid mismanagement of oil revenues.

When the chiefs in the region asked for 10 percent retention of the oil revenues for infrastructural development, you kicked against it with excuse that the oil is drilled offshore.

Dr. Mahamudu Bawumia, who first addressed the nursing students, said with just Ȼ20 billion in revenues and without the benefit of oil revenues, the NPP was able to pay nursing trainee and teacher trainee allowances.

He then took a swipe at the Ghana National Petroleum Corporation's (GNPC) sponsorship of the Black Stars describing such uses of the oil revenue as unwise.

Responding to a question on the diversification of oil revenue at the Institute of Economic Affairs (IEA) Evening Encounter Series on Tuesday, Dr. Mahama noted that, he will focus the oil revenue on priority areas like capacity building and agriculture.

They also have to intensify their monitoring and supervision of all oil revenue funded projects spread across the country.

Speaking during a meeting with farmers, Dr. Afriyie Akoto proposed that part of the oil revenue should be used for such a venture.

The provisional 2015 GDP growth rate is 4.1 % and for the first time since the inclusion of oil revenues beginning from 2011 the non-oil component of the GDP growth of 4.2 % is higher than the overall real GDP growth rate of 4.1 %.

A senior official close to Col Gaddafi told the BBC that he believed the Libyan government could accept the partition of the country and the division of its oil revenues.

This, according to him, has no doubt weakened the potential impact of oil revenues on the socio - economic development of Ghana.

The dispute was important, because a ruling in favour of private ownership would mean not only that the state was deprived of oil revenues, but also that the marshy wilderness left by the receding water could not be conserved by the authorities.

It may be good to be king, but it's even better when you have a near - endless supply of oil revenue at your disposal, coupled with the perpetual support and approval of the French government.

Dr Wykes, a senior campaigner at Global Witness, was visiting Angola to find out about the country's progress in making the management of its oil revenues more open and accountable to Angola's citizens.

Sonangol publishes its audited accounts and full details of oil revenue flows between foreign oil companies, Sonangol itself and the Angolan government.

The Chief Executive of the National Health Insurance Authority (NHIA), has commended President John Mahama for the decision to allocate a portion of the oil revenue to the Scheme, describing it as «forward looking» and a step in the right direction.

He wondered how the President could use oil proceeds to fund the programme without recourse to the law, saying «the disbursement of oil revenue is regulated by law; the Petroleum Revenue Management Act».

In the same way as the Norwegian state takes 78 % of oil revenues in tax, it must also bear an equally large share of the costs involved in activities such as exploration and the plugging of wells.

I believe strongly that this is the most equitable and transparent use of the oil revenue, instead of it finding its way into the pockets of politicians and bureaucrats.»

Both Norway and Canada made plans to save some of their oil revenues for the inevitable rainy day, but their fiscal strategies are now diverging.

Therefore, we can not, in principle, be against the use of oil revenue to finance education.»

Finally, there is the small matter of the of oil revenues.

In a statement signed by the Deputy Executive Director of ACEP, Benjamin Boakye, he said «In spite of many implementation challenges, the PRMA has been a model for many countries and Ghana can only do better at improving on transparency and accountability around the use of the oil revenues.

The recent border clashes illustrate the lack of agreement between the two sides about the sharing of oil revenues.

I believe strongly that this is the most equitable and transparent use of the oil revenue, instead of it finding its way into the pockets of politicians and bureaucrats,» he said.

We need more money to invest into the scheme that is why in the NDC manifesto we stated that some of the oil revenue should be injected into the NHIS so that the NHIS would always be in the position to take care of subscribers,» he added.

Global Witness is not saying that this analysis proves that the southern government has not received its fair share of oil revenues; what it proves is that there is a need for more transparency, a need to get to the bottom of how much oil Sudan produces.