Expert on revenue management in the extractive sector, Steve Manteaw has said the newly approved Agyapa Minerals Royalties deal will not serve the best interest of the public.

Dr Manteaw claimed that parliamentarians should be policed as some Members of Parliament who are expected to "take a nationalistic approach to the discussions and decisions in parliament...rather shortchange the citizens of the nation".

Speaking on Joy FM's Super Morning Show, he stated this a reason to stand against the deal.

"For sure I can say the national interest has been compromised in this whole arrangement and that is why we have come out".

"In the course of the development of this country, we need to have people who can stand up to protect the interest of the state and if our Members of Parliament can't do it, then we as citizens have to rise to do this ourselves," he said.

He bemoaned the fact that the practice of democracy in the country had been "turned on its head", adding that the people who are supposed to go and represent the nation "go to parliament to represent themselves and their interest".

This comes after some 15 Civil Society Organisations (CSOs) have demanded a suspension of the Agyapa deal until all necessary documents have been disclosed.

The agreement which is said to be in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), was passed without support from the Minority in Parliament.

This will enable the country to use a Special Purpose Vehicle (SPV), Agyapa Royalties Limited, to secure about $1 billion to finance large infrastructural projects.

Since Agyapa is operating as an independent private sector entity, it can raise funds from the capital market, both locally and internationally.

This will be an alternative to the conventional debt capital market transactions.

The funds, which are expected to be raised from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE), will be a long-term capital, without a corresponding increase in Ghana’s total debt stock.

However, the flagbearer for the National Democratic Congress (NDC), John Mahama promised that his government will investigate the contract immediately he assumes office.