The Ministry of Finance has denied claims that it withheld information on the use of the Annual Budget Funding Amount (ABFA) from the Public Interest and Accountability Committee (PIAC), insisting that it provided the Committee with the necessary data and explanations.
In a statement issued on Friday, October 23, 2026, the Ministry said it had shared information on petroleum revenue receipts and distribution, including arrangements for the use of ABFA funds earmarked for the Accra–Kumasi Expressway.
The response follows a PIAC statement dated October 21, which raised concerns about the exclusion of ABFA utilisation data from its 2026 Semi-Annual Report.
According to the Ministry, its officials participated in PIAC’s virtual validation workshop and held face-to-face meetings with the Committee to explain petroleum revenue receipts, distribution and the arrangements for using the funds.
“The exclusion of ABFA utilisation data from PIAC’s report should therefore not be presented as evidence that the Ministry withheld information,” the statement said.
On the Accra–Kumasi Expressway, the Ministry referred to paragraph 572 of the 2026 Mid-Year Fiscal Policy Review, which states that funds allocated to the project, including the total ABFA realised in 2026, have been ring-fenced for construction once the contract is awarded.
The Ministry said the decision was in line with PIAC’s recommendation to avoid spreading petroleum revenues across numerous projects with limited economic impact. It explained that concentrating the funds on the expressway would support a major infrastructure project expected to deliver significant national benefits and value for money.
The Ministry also dismissed concerns that the arrangement had deprived District Assemblies of their share of petroleum revenues.
It said the five per cent allocation due to the District Assemblies Common Fund was being paid from the Consolidated Fund, adding that the arrangement had already been explained to PIAC.
“Metropolitan, Municipal and District Assemblies have therefore not been shortchanged by the decision to ring-fence ABFA resources for the expressway,” the statement added.
The Ministry reaffirmed its commitment to transparency and accountability in the management of petroleum revenues, assuring the public that it would continue to provide PIAC with the information needed to carry out its oversight responsibilities.
It added that details on petroleum revenue management would continue to be published through the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports.
