Mohamed rips into Budget

Feb 07, 2026 News

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…demands tougher oversight of oil fund
…slams falling birth rate, soaring cost of living
…flags chronic power outages
…warns fishing industry in sharp decline

By Renay Sambach

(Kaieteur News) – Newly-elected Leader of the Opposition Azruddin Mohamed in his maiden budget debate speech on Friday evening launched a blistering critique of the 2026 National Budget, outlining that its record size of $1.558 trillion masks weak oversight of oil revenues, worsening living conditions, persistent power outages and a sharp decline in the fishing industry, while failing to address critical issues.

Opening his speech, Mohamed the leader of We Invest in Nationhood (WIN), outlined the party’s rapid rise in Guyana’s political arena. “Despite the name calling, calling me sanction man, gold smuggler, international fugitive, despite the delay, resistance, and every effort to keep me out, I stand as the youngest Leader of the Opposition because over 109,000 voters chose hope over fear and gave WIN a chance,” he said.

He accused government speakers of focusing on political attacks rather than substance, cautioning that the size of the $1.558 trillion budget should not be mistaken for success. Pointing to government parliamentarians, Mohamed said, “…size is not a measure of success. This year’s budget represents a 12.7 per cent increase from last year’s budget and is five times larger than the PPP’s first national budget in 2021. Every year they come to this house with historic groundbreaking numbers, but where is this money going and who really benefits.”

The opposition leader who is currently before the local court battling an extradition request made by the United States government and is also sanctioned, made his contributions during the budget debates amid heckling from government parliamentarians, at times exchanging words across the floor as he pressed on with his presentation.

During Mohamed’s more than one-hour contribution, Minister of Parliamentary Affairs and Governance Gail Teixeira rose more than five times to cite Standing Order 38(6), which bars members from reading speeches instead of debating, outlining that Mohamed has been reading rather than debating.

Pressing ahead with his presentation, he acknowledged projected growth figures outlined by the government in relation to the economy, but stressed that those figures meant little to households grappling with rising prices.

He argued that a bigger budget does not automatically translate into better lives. “These are impressive numbers, they look good on paper, but they do not help a mother who stands in the market and finds that the salary she earned this month buys less than it did last month,” Mohamed asserted.

Oil and Gas

Turning to oil and gas sector, the opposition leader cited that Guyana’s oil production has surpassed 900,000 barrels per day, reaching record numbers but a large section of society still lives in poverty.

Mohamed challenged the government’s claims of strong oversight of the Natural Resources Fund (NRF). In fact, he insisted that parliamentary approval under a government majority does not amount to independent scrutiny.

Mohamed insisted that, “Real oversight requires transparent audits done by internationally recognised firms, not reports filtered through the same government withdrawing and spending the money.”

He added, “At present, the same executive that requests the money controls the vote, the agencies, and the reporting system. That is not accountability. That is self-supervision. You can’t put a cat to watch milk.”

He contended that government is treating Guyana’s oil wealth as routine income rather than a once-in-a-generation opportunity, arguing that outcomes on the ground tell a different story.

Further, he questioned transparency in the sector, demanding answers on outstanding audits and project costs, including the gas-to-energy project and ExxonMobil Guyana Limited expense reviews. He rejected claims that reports need not be public, insisting citizens have a right to understand how billions are spent.

Gold Mining

On mining, Mohamed accused the government of failing small-scale operators, whom he described as the backbone of the sector.

“Honorable Vickram (Bharrat) I would like you to make land available for small miners, viable lands. Ensure you focus on the small miners,” Mohamed urged the natural resources minister.

He further stated that gun men are terrorising small miners in the mining regions, and he urged Minister of Home Affairs, Oneidge Walrond to ensure that systems are in place to ensure security for the small miners.

Mohamed, noted that declarations from licensed dealerships declined by 21.5 percent to 121,883 ounces in 2025, adding, “But when I was in the business the declarations were higher. Where is the gold going?’

“An average of US$2 billion leaking out of our banking system, causing a heavy rate…if you go to any of the banks, you can’t get U.S…” he said, noting that because of his business not being in operation, the exchange rate has skyrocketed.

“We need the small miners, the gold price is US$5,000 an ounce, you check if $2 billion come in back to the system, y’all withdraw US$2.4 billion from the NRF, just imagine US$2 billion leaking out the system and you guys turning a blind eye…” he outlined.

Fisheries

“The honorable minister of Agriculture wants us to believe all is fine and dandy over there. But our sugar-workers, our farmers and our fisherfolk are crying out,” Mohamed said as he shifted his attention to the agriculture sector.

In relation to the fishing sector, he outlined that for decades there were three fishing companies operating in Guyana: Noble House Sea Foods, Pritipaul Singh Investments and Rupee.

“Ten years ago, sea bob shrimp catches were about 45 million pounds per year. Now in 2026, the catch is only three million pounds, why?” he questioned. To this end, he highlighted that Noble House and Rupee are now closed with only Pritipaul Singh in operation.

“This company (Prittipaul) has been the largest seafood company in Guyana and the Caribbean, with catches reaching a maximum of 28 million pounds in 2013. In 2025, catches are down to three million pounds annually,” he noted.

GPL

Mohamed also criticised the long-standing problems in the utilities sector, particularly electricity supply, despite billions allocated to the energy sector year-after-year.

“After almost 30 years in office, the PPP has failed to effectively address our electricity supply woes. Two power ships later and we are still struggling with inadequate electricity supply,” he said.

He pointed out that in the 2026 budget the sum of $119.4 billion has been allocated to enhance the country’s electricity supply and energy infrastructure. However, he argued that the PPP administration is unable to find real solutions to the country’s electricity woes.

Public Servants

The opposition leader was particularly critical of the budget’s treatment of public servants.  Mohamed stated, “Our nearly 70,000 hardworking public servants got nothing in this budget. Not even a small salary increase, not a bonus, nothing planned for them in the year’s biggest budget, nothing at all.”

He continued, “Our public servants carry this nation on their backs. But this budget turns its back on them. They come here and praise them with words. Sell big dreams on the campaign platform; in turn, they pay them with crumbs.”

Cost of Living

He also raised concern about Guyana’s declining birth rate, noting that despite cash grants, many women are choosing not to have children due to economic pressures.

Mohamed underscored that understanding the plight a regular citizen faces would show what is needed to put people first. He insisted that increasing salaries for public servants, decreasing cost-of-living by implementing measures even if temporary like across the board subsidy or food banks.

“What we need to do, is to invest directly in people, not just projects. Many people still cannot afford food, rent, transport, and utilities with salaries alone,” he stated.

Mohamed asserted, “There is little evidence that the 2025 social services measures provided any transformational relief to citizens, especially when you pay a visit to the palms, or the Amerindian hostel. I visited, so I know.”

To this end, he called on the government to address the declining birthrate, contending that fewer women are making babies in Guyana, with 2025 recording the lowest birth rate in years.

Mohamed noted that this has happened despite the introduction of a $100,000 newborn grant by the administration. “I asked a few women, why. The same sound reverberates; the cost of living is too high. You can’t raise children comfortably in this economy,” the opposition leader stated.

He outlined that budget 2026 expanded spending in some areas, but social services barely increased. He shunned the $5,000 increase for pensioners, $3,000 increase in public assistance and the $85,000 children’s grant which he noted is less than the $200,000 that the PPP government promised on the campaign trail.

Throughout his presentation, the opposition leader maintained that while the opposition does not oppose development, the spending must be tied to tangible benefits for ordinary citizens and for the improvement of their lives at a time when the country has tremendous oil and other resources.

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• Azruddin Mohamed, birth rate, cost-of-living, National Budget, Oil and Gas, We Invest in Nationhood

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