Cassiel Ato Forson proposes Natural Resource Management Act to fund infrastructure

Finance Minister Dr. Cassiel Ato Forson has announced plans to introduce the Natural Resource Management Act, a new legislative framework designed to replace the Petroleum Revenue Management Act (PRMA). This proposed law seeks to consolidate revenues from Ghana's diverse extractive industries—including oil, gold, lithium, and bauxite—into a unified fund. By streamlining these revenue streams, the government aims to ensure that the nation's natural wealth is directed toward high-impact national development rather than being diluted through fragmented or inefficient expenditures.

A primary objective of the new Act is to ring-fence natural resource revenues for specific, large-scale infrastructure projects. Dr. Forson identified the Accra-Kumasi Expressway and the Western Corridor Railway Line as priority investments that will benefit from this dedicated funding source. The Western Corridor Railway project, in particular, is envisioned to be completed without the need for additional external borrowing. By securing domestic financing through this Act, the government intends to facilitate the efficient transport and utilization of minerals such as bauxite and manganese, further boosting the industrial economy.

The shift from the PRMA to the Natural Resource Management Act marks a strategic effort to enhance transparency and accountability in the extractive sector. In the wake of recent economic challenges, the government is positioning this legislative overhaul as a key pillar of national recovery. By establishing a clear framework for managing resource wealth, the Act aims to protect the interests of both current and future generations, replacing an older system that focused predominantly on petroleum to capture the full value of Ghana's diverse mineral resources.