Finance Minister denied his remark on oil sold till 2027
AUTHOR: Chuol Jany | PUBLISHED: May 12, 2022
South Sudan Minister of Finance and Economic Planning, Hon. Agak Acuil Lual giving statement to SSBC on Wednesday after meeting the President. Photo: State House
The Minister of Finance and Economic Planning, Hon. Agak Acuil Lual says his comment on oil being sold in advance was taken out of context.
He says what he meant was the crude(oil) spreadsheet and commitments on the developmental projects until 2027, and it doesn’t mean that South Sudan oil has been sold out.
The Minister was summoned by President Salva Kiir Mayardit, citing the recent remark to the media last week.
During the press conference on 5th May, Acuil said South Sudan’s oil had been sold in advance to pay government priorities.
“Where might you go to get the money if the oil has been sold until 2027? That meant I will go to 2028 to ask somebody to give me money such that by 2028 he will be given that oil,” said Acuil in the news briefing after his return from the United States.
But yesterday, he said during his meeting with the president on the status of economic reforms in the Country and the utilization of the oil proceeds.
Acuil said the media misquoted him, and What trended in the news was wrong.
We said the oil advances were spread up to 2027, but it doesn’t mean that the oil of South Sudan was sold out all. We still have our oil in the ground, we still have all our resources in the ground, and the government is embarking on initiatives for oil,” he said.
The Minister revealed that government enhancement to increase the oil production.
“We still have enough oil in the ground. It doesn’t mean the oil has been sold away. No, the oil is still there and what we did is to spread the sheet of advances we made.”
The Minister’s statement on oil being sold till 2027 creates mixed reactions among the public on social media and social gatherings, questioning what the government does with the oil money.