BY: ANTONIO DEY | HGP NIGHTLY NEWS |
A Partnership for National Unity (APNU) is sounding the alarm over what it describes as the government’s “continuous attempts to erode critical safeguards” within Guyana’s Natural Resource Fund (NRF), warning that such actions open the door to mismanagement and corruption.
The concerns were raised by Dr. Terrence Campbell, APNU’s Parliamentary Lead and Shadow Minister of Finance and Health, after Attorney General Anil Nandlall rejected his proposed amendments to the NRF Act.
“APNU expresses deep concern over the progressive weakening of the controls, transparency, and accountability mechanisms that were in the Natural Resource Fund framework,” Dr. Campbell said.
He stressed that with billions of U.S. dollars flowing into the NRF, prudent, transparent, and sustainable management is essential to safeguard both present and future generations.
Claims of Removed Guardrails
Dr. Campbell accused the administration of systematically removing the “guardrails of democracy and prudent financial management” that were built into the NRF Act when it was first enacted in 2019 under the APNU+AFC government.
He highlighted that the original legislation contained:
- A Public Accountability and Oversight Committee
- A multi-level management structure
- Independent committees to maintain sustainable withdrawal limits
- Strong legal insulation from political interference
According to Campbell, these features ensured that oil revenues were protected from manipulation and safeguarded for national development.
However, he argued that amendments introduced by the current government, as well as updates under the Fiscal Enactments (Amendment) Act of 2024, have weakened transparency and expanded the government’s ability to withdraw funds.
“The government amendments facilitate corruption, abuse, misuse, and mismanagement of the people’s wealth through political control and domination by the PPP government,” Campbell asserted.
Call for Oversight Restoration
Campbell warned that the NRF is at risk of becoming “a politically controlled pool of revenue” that can be accessed at the discretion of the administration—rather than through a structured, rules-based system.
“This dismantling of institutional safeguards threatens the very economic future of the nation.”
He urged that oversight mechanisms be restored and that withdrawal rules be revised to ensure long-term economic stability.
Dr. Campbell insisted that Guyana’s oil wealth belongs to all of its citizens, not any one political party.
