Ministry of Finance Rejects Claim of Withholding Information on Annual Budget Funding Amount

The Ministry of Finance has rejected claims by the Public Interest and Accountability Committee (PIAC) that it withheld information on the utilisation of the Annual Budget Funding Amount (ABFA), insisting that all relevant data and explanations were provided to the Committee.

In a statement issued on Friday, the Ministry said it had provided PIAC with petroleum receipts and distribution data and had also explained the arrangements governing the utilisation of ABFA resources, including the decision to ring-fence funds for the Accra-Kumasi Expressway.

According to the Ministry, all ABFA resources realised in 2026 have been ring-fenced for the expressway project and will be utilised when the contract is awarded.

It noted that the decision was consistent with PIAC's recommendation to avoid spreading petroleum revenues across numerous projects with limited economic impact.

The Ministry explained that the arrangement is intended to support a major infrastructure investment that delivers clear national benefits and value for money.

It further stated that officials participated in PIAC's virtual validation workshop and held in-person meetings with the Committee, during which they explained petroleum revenue receipts, distribution and the arrangements for ABFA utilisation.

"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.

Addressing concerns about District Assemblies, the Ministry clarified that the five per cent share of ABFA due to the District Assemblies Common Fund (DACF) is being paid from the Consolidated Fund and that this arrangement had been communicated to PIAC.

It added that Metropolitan, Municipal and District Assemblies had not been shortchanged by the decision to ring-fence ABFA resources for the Accra-Kumasi Expressway.

The Ministry reaffirmed its commitment to providing PIAC with information required to carry out its mandate and to ensure public accountability in the management of petroleum revenues.

“Relevant information would continue to be published in the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports,” it concluded.

Margaret Adjeley Sowah, ISD