$434m in oil revenue allocated to Big Push Programme — PIAC

The Chairman of the Public Interest and Accountability Committee (PIAC), Richard Ellimah, has revealed that a total of US$434.55 million from Ghana’s petroleum revenue has been allocated through the Annual Budget Funding Amount (ABFA) to support the government’s flagship infrastructure initiative, the “Big Push” programme.

He made this disclosure during the official launch of the 2025 PIAC Annual Report in Accra on Wednesday, April 8, where key stakeholders gathered to review the performance and transparency of Ghana’s petroleum revenue management.

According to Mr Ellimah, a significant portion of the allocated funds has been directed toward the development of major infrastructure projects under the Big Push Agenda. He highlighted the Kumasi-Accra Expressway as the flagship project within the programme, emphasizing its strategic importance in improving transportation, boosting economic activity, and enhancing connectivity between two of Ghana’s major cities.

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

Mr Ellimah further explained that although the funds have been earmarked and transferred, they are currently being held at the Bank of Ghana. This is because key preparatory processes, including feasibility studies and project assessments, are still ongoing before full-scale disbursement and implementation can begin.

“And the funds are held at the Bank of Ghana,” he stated, underscoring the need for due diligence and proper planning to ensure the effective use of the resources.

The 2025 PIAC Annual Report also provided a broader overview of Ghana’s petroleum sector performance. It indicated that since the country began commercial oil production in 2011, the sector has generated a cumulative revenue of US$11.97 billion. This highlights the critical role petroleum resources continue to play in supporting Ghana’s economy and financing national development projects.

However, the report also noted emerging concerns about a gradual decline in petroleum production levels over the years. This trend, if not addressed, could have implications for future revenue generation and underscores the importance of prudent management and diversification of revenue sources.