PIAC demands details on petroleum revenue for Big Push projects

The Public Interest and Accountability Committee (PIAC) has called on the Ministry of Finance to provide comprehensive data on the expenditure of petroleum revenues earmarked for the government’s "Big Push" infrastructure agenda. In its 2026 semi-annual report, the committee highlighted persistent difficulties in tracking the Annual Budget Funding Amount (ABFA), which is essential for monitoring how oil wealth is being converted into physical development across the country.

According to the report, Ghana recorded a significant surge in petroleum receipts during the first half of 2026, totaling $561.4 million. This represents a substantial increase from the $370.3 million collected during the same period in 2025. PIAC Chairman, Mr. Richard Ellimah, attributed this growth primarily to the rise in global crude oil prices, though he cautioned that such revenues remain highly susceptible to international market volatility.

Despite the influx of funds, Mr. Ellimah emphasized that the lack of transparent data from the Ministry of Finance continues to hinder the committee's statutory mandate. Without specific details on project-level allocations, PIAC is unable to verify whether the funds are being utilized effectively for their intended purposes under the Big Push initiative. The committee reiterated that transparency regarding the ABFA is vital for ensuring that petroleum revenues contribute to long-term national growth.

The "Big Push" projects represent a significant portion of the government’s infrastructure strategy, making the accountability of their funding a matter of high public interest. PIAC’s latest findings serve as a reminder of the need for tighter fiscal reporting standards to ensure that the current windfall from high oil prices translates into tangible benefits for the Ghanaian people, rather than being obscured by administrative reporting gaps.