$434.55m oil revenue allocated to Big Push -PIAC

A total of US$434.55 million from Ghana’s petroleum revenue has been allocated to the government’s “Big Push” infrastructure programme through the Annual Budget Funding Amount (ABFA), the Public Interest and Accountability Committee (PIAC) has disclosed.

The Chairman of PIAC, Richard Ellimah, made the announcement on Wednesday, April 8, during the launch of the committee’s 2025 Annual Report in Accra.

Mr Ellimah explained that the funds have already been transferred to a special purpose vehicle (SPV) established by the Ghana Infrastructure Investment Fund (GIIF) and are currently being held at the Bank of Ghana.

“The Kumasi-Accra Expressway is the flagship programme under the Big Push Agenda. Now US$434.55 million has already been transferred to an SPV established by the Ghana Infrastructure Investment Fund for the Big Push,” he said.

According to the PIAC Chairman, the funds will be released for the Big Push programme once feasibility studies on the projects are completed.

“And the funds are held at the Bank of Ghana,” he reiterated.

The PIAC report also revealed that Ghana’s petroleum sector has generated cumulative revenues of US$11.97 billion since 2011, underscoring the industry’s critical role in national revenue mobilisation, despite signs of a gradual decline in production levels.

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