PIAC Reconstitutes Membership, Elects Economist Peter Quartey as New Chair

The Public Interest and Accountability Committee has elected Professor Peter Quartey, a development economist with more than two decades of experience, as its new Chairperson following a major reconstitution of the petroleum revenue watchdog.

Professor Quartey, who represents the Ghana Academy of Arts and Sciences, was elected on November 3, 2026, for a one-year term. He succeeds Richard Ellimah, whose tenure ended in October . Samuel Bekoe, representing Think Tanks, was elected Vice Chairperson for the same period.

The leadership changes follow the expiration of the tenure of six members and the swearing-in of their replacements, alongside the renomination of Professor Quartey to continue representing the Academy. The new members, sworn in by the Ministry of Finance, represent the Queen Mothers Association of Ghana, the Trades Union Congress, Muslim Groups, Christian Groups, the Association of Ghana Industries and Ghana National Chamber of Commerce and Industry, and Civil Society and Community-Based Organisations. They are Mama Agumekosua V, Dr Edmund Adinkra-Darko, Alhaji Abdul Majeed Saeed, Reverend Jehoiada Godwin Amuzu, Daniel Kissi and Kyei Kwadwo Yamoah .

A Seasoned Economist at the Helm

Professor Quartey brings over 22 years of experience in economics, development finance, private sector development, monetary and financial sector development, and digital finance to the role. He holds a PhD in Development Economics from the University of Manchester, an MSc in Quantitative Development Economics from the University of Warwick, and postgraduate and undergraduate degrees in Economics from the University of Ghana . He is widely known in Ghanaian academic and policy circles as a Professor of Economics and has held several senior academic and board positions .

His election comes at a critical juncture for petroleum revenue management. In the first half of 2026, Ghana’s petroleum receipts surged 52 per cent year-on-year to US92.81 a barrel against a benchmark of US$76.22 . But the windfall has exposed enduring weaknesses in oversight.

An Uncomfortable Inheritance

The outgoing Chair, Richard Ellimah, leaves behind a mixed record of advocacy and frustration. Under his leadership, PIAC published its 2026 semi-annual report, which raised pointed questions about the Ghana National Petroleum Corporation’s use of petroleum funds. The committee found that GNPC received US23.45 million to production and development costs, with the remaining US$16.69 million used for non-field expenditure including staff costs and head office construction .

More controversially, PIAC clashed with the Ministry of Finance over access to data on the utilisation of the Annual Budget Funding Amount. The Ministry rejected claims that it had withheld information, insisting it had explained arrangements to ring-fence ABFA resources for the Accra–Kumasi Expressway . PIAC was forced to omit the spending-assessment chapter from its semi-annual report as a result .

Ellimah was also candid about the committee’s structural limitations. In October, he described PIAC as a “toothless bulldog,” noting that in 15 years of statutory reporting, he could not recall a single occasion when a public officer had been held accountable under the Petroleum Revenue Management Act. “Ghana does not lack evidence of issues in public money management,” he said. “What we need is a mechanism that turns evidence into consequences routinely” .

The Task Ahead

Established under the Petroleum Revenue Management Act, 2011 (Act 815), PIAC is mandated to monitor compliance with the law, evaluate the management and use of petroleum revenues, and promote transparency and accountability in the sector . It has published 29 reports since its establishment—14 annual and 15 semi-annual—yet its recommendations often go unheeded and its enforcement powers remain limited.

For Professor Quartey, the immediate challenge will be navigating a relationship with the Ministry of Finance that has grown testy over data disclosure, while maintaining pressure on GNPC and the Ghana National Gas Company over the use of petroleum funds. He will also preside over a committee whose membership has been substantially renewed, with six of its members newly sworn in.

The new leadership takes office as Ghana’s petroleum revenues are recovering from a sharp decline in 2025, when receipts fell to about US1.36 billion in 2024 . Whether that recovery becomes an opportunity for stronger stewardship—or another cycle of missed accountability—will depend in no small part on how effectively the reconstituted committee can convert its findings into consequences.