Accra, Friday, 23rd October 2026 … It has come to the attention of the Ministry of Finance that a statement issued by the Public Interest and Accountability Committee (PIAC) on October 21, 2026, concerning its 2026 Semi-Annual Report, suggests that the Ministry withheld information on the utilisation of the Annual Budget Funding Amount (ABFA).
The Ministry rejects this claim. It provided PIAC with petroleum receipts and distribution data and explained the arrangements governing the utilisation of ABFA resources, including the ring-fencing of funds for the Accra–Kumasi Expressway.
For clarity, the Ministry sets out the following facts;
ABFA resources have been ring-fenced for the Accra–Kumasi Expressway.
- As stated in paragraph 572 of the 2026 Mid-Year Fiscal Policy Review, all funds allocated to the Accra–Kumasi Expressway, including the total ABFA realised in 2026, have been ring-fenced. These funds will be used for construction when the contract is awarded.
- The decision to concentrate ABFA resources on the expressway follows PIAC’s recommendation to move away from spreading petroleum revenues thinly across numerous projects with limited economic impact. It is intended to deliver a major infrastructure investment with clear national benefits and value for money.
- These arrangements were explained to PIAC.
- The Ministry participated in PIAC’s virtual validation workshop and held in-person meetings with the Committee. During these engagements, officials explained petroleum revenue receipts, distribution and the arrangements for ABFA utilisation.
- The exclusion of ABFA utilisation data from PIAC’s report should therefore not be presented as evidence that the Ministry withheld information.
6. District Assemblies have not been deprived of their share.
- The 5 per cent share of ABFA due to the District Assemblies Common Fund (DACF) is being paid from the Consolidated Fund. The Ministry explained this arrangement to PIAC during its engagements with the Committee.
- Metropolitan, Municipal and District Assemblies have therefore not been shortchanged by the decision to ring-fence ABFA resources for the expressway.
7. The Ministry will continue to provide PIAC with information required to discharge its mandate and to account publicly for the management of petroleum revenues. Relevant details will continue to be published in the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports. END
ISSUED BY PUBLIC RELATIONS UNIT
MINISTRY OF FINANCE
THE NEWS EDITOR