By Morkporkpor Anku
Accra, Oct. 24, GNA – The Ministry of Finance has defended its management of the Annual Budget Funding Amount (ABFA), saying all 2026 allocations have been reserved for the Accra-Kumasi Expressway project.
The Ministry rejected claims that it had withheld information on the utilisation of ABFA resources from the Public Interest and Accountability Committee (PIAC).
The position was contained in a statement issued by the Ministry in response to PIAC’s statement of October 21, 2026, on its 2026 Semi-Annual Report.
It said all ABFA resources realised in 2026 had been ring-fenced for the expressway project and would be deployed once the contract for the project was awarded.
The Ministry said paragraph 572 of the 2026 Mid-Year Fiscal Policy Review indicated that all funds allocated to the project, including the total ABFA realised in 2026, had been set aside for that purpose.
It said it had provided PIAC with petroleum revenue receipts, distribution data and information on the arrangements governing the utilisation of ABFA resources.
The Ministry explained that concentrating ABFA resources on the expressway was in line with PIAC’s recommendation to avoid spreading petroleum revenues across numerous projects with limited economic impact.
It said the strategy was intended to support a major infrastructure investment with clear national benefits and value for money.
The Ministry said officials had explained the arrangements to PIAC during a virtual validation workshop and subsequent in-person engagements.
It said those discussions covered petroleum revenue receipts, distribution and the framework for utilising ABFA resources.
The Ministry maintained that the omission of ABFA utilisation details from PIAC’s report should not be interpreted as evidence that information had been withheld.
It also said the five per cent share of ABFA due to the District Assemblies Common Fund (DACF) was being paid from the Consolidated Fund.
The Ministry said PIAC had been informed of the arrangement and that Metropolitan, Municipal and District Assemblies had not been disadvantaged by the decision to ring-fence ABFA resources for the expressway project.
It reiterated its commitment to providing PIAC with information required for the discharge of its mandate and to ensuring public accountability in the management of petroleum revenues.
The Ministry said relevant information would continue to be published in the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports.
GNA
Edited by Kenneth Sackey
Reporter: Morkporkpor Anku
Email: [email protected]