GEORGETOWN — Guyana’s oil reserves continue to pour billions into the nation’s coffers, with the Natural Resource Fund (NRF) now boasting a staggering US$3.6 billion balance as of September 2025, a figure officially revealed by Finance Minister Dr. Ashni Singh during Monday’s sitting of the National Assembly.
Presenting the Notifications of Receipts for all petroleum revenues deposited into the Fund between April and September 2025, Dr. Singh reminded Parliament that this level of wealth comes with equally serious responsibility, and legal consequences for those who fail to uphold transparency.
“Under the NRF Act 2021, any minister who fails to disclose oil revenues within three months of receipt can face up to ten years in prison,” Dr. Singh said firmly. “That is how seriously this government takes accountability.”
The Minister stressed that the People’s Progressive Party/Civic (PPP/C) administration remains committed to managing Guyana’s oil sector “with complete transparency and for the benefit of every citizen.” Alongside the quarterly receipts, Dr. Singh also tabled the NRF Annual Report for 2024, describing it as a “public demonstration” of the government’s continued commitment to open reporting and parliamentary oversight.
He applauded the NRF Board of Directors, the Public Accountability and Oversight Committee, and the Investment Committee for their work in protecting what he called “one of Guyana’s most critical national assets.”
The NRF Act 2021, which took effect in January 2022, introduced sweeping reforms that separated the management of the Fund from ministerial control, a major shift aimed at ensuring independence and public confidence. Withdrawals from the Fund now require Parliamentary approval, and all receipts must be published in the Official Gazette.
The International Monetary Fund (IMF) has praised these measures, highlighting Guyana’s progress in “strengthening the governance of natural resources and improving fiscal transparency.” The IMF noted that the Bank of Guyana now publishes monthly and quarterly performance reports, and that both the NRF Board and Oversight Committee submit their annual reports to Parliament as required by law.
Reappointed on August 31, 2024, the current NRF Board includes Major General (Ret’d) Joseph Singh, MSS as Chairperson, Dunstan Barrow, Ramesh Dookhoo, Carolyn Rodrigues-Birkett, and Professor Compton Bourne, O.E.The Public Accountability and Oversight Committee, also reappointed in August, has released its 2024 Annual Report, reaffirming its role as an independent guardian of transparency and citizen oversight.
“This is transparency in action,” Dr. Singh told lawmakers. “Our people can see where every dollar goes. The Natural Resource Fund is not a mystery; it is a mirror of our integrity.” With oil revenues climbing at record speed and global agencies watching Guyana’s economic transformation, the NRF’s swelling balance has become both a badge of success and a test of accountability.
