'ABFA utilisation data excluded from PIAC's report not withholding of information' — Finance Ministry rejects claims

The Ministry of Finance has rejected claims that it withheld information on the utilisation of the Annual Budget Funding Amount (ABFA) from the Public Interest and Accountability Committee (PIAC), insisting that it provided the necessary details on petroleum revenue receipts and allocations.

In a statement issued on Friday, October 23, 2026, the Ministry said it had engaged PIAC on the arrangements governing the use of ABFA resources, including funds earmarked for the Accra–Kumasi Expressway.

The clarification follows a PIAC statement dated October 21 concerning the omission of ABFA utilisation data from its 2026 Semi-Annual Report.

“The exclusion of ABFA utilisation data from PIAC's report should therefore not be presented as evidence that the Ministry withheld information,” the Ministry stated.

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 ABFA funds.

On the Accra–Kumasi Expressway, the Ministry referred to paragraph 572 of the 2026 Mid-Year Fiscal Policy Review, which states that all 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 informed by PIAC's recommendation that petroleum revenues should not be spread thinly across numerous projects with limited economic impact.

It explained that concentrating the resources on the expressway was intended to finance a major infrastructure project capable of delivering significant national benefits and value for money.

The Ministry also dismissed suggestions that District Assemblies had been denied their share of ABFA resources.

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 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 said.

The Ministry reaffirmed its commitment to providing PIAC with the information needed to fulfil its mandate and ensuring public accountability for petroleum revenues.

It added that details on petroleum revenue receipts and utilisation would continue to be disclosed through the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports.