The Public Interest and Accountability Committee (PIAC) has called for conscious efforts to ensure better targeting of the Annual Budget Funding Amount (ABFA) allocation for maximum impact.
It said assessment of the management and utilisation of the ABFA mechanism over the years had shown that although four priority areas are selected, actual spending normally covered all the 12 listed priority areas within the Petroleum Revenue Management Act (PRMA).
“This practice has resulted in a situation where the ABFA is used to fund all manner of activities outside of the four priority areas,” it said.
Besides, while governments over the years had duly selected up to four priority areas, the sectors were not equally assessed, resulting in a situation where some priority areas receive a larger percentage of the ABFA than others.