Finance Ministry rejects claims it withheld ABFA data from PIAC

The Ministry of Finance has rejected allegations 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 committee with relevant petroleum revenue data and explanations on how the funds are being managed.

In a statement issued on Friday, October 23, 2026, the Ministry said it had shared information on petroleum receipts and distributions, including arrangements for funds earmarked for the proposed Accra–Kumasi Expressway.

The clarification follows a PIAC statement dated October 21, which raised concerns about the exclusion 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 in-person meetings with the committee to explain petroleum revenue receipts, distribution and the arrangements governing ABFA utilisation.

The Ministry maintained that these engagements provided opportunities to clarify how petroleum revenues were being managed and how allocations were being handled under the government’s current arrangements.

It therefore rejected suggestions that the absence of the utilisation data from PIAC’s report was the result of a failure to provide the necessary information.

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.

According to the Ministry, the funds will be used for construction once the contract has been awarded.

The Ministry explained that the decision reflects PIAC’s recommendation that petroleum revenues should not be spread too thinly across numerous projects with limited economic impact.

It said concentrating the resources on the expressway was intended to support a major national infrastructure investment with wider economic benefits and value for money.

The government’s approach, as outlined by the Ministry, is to direct the earmarked petroleum revenues towards the expressway rather than distribute them across multiple projects.

The Ministry also dismissed suggestions that Metropolitan, Municipal and District Assemblies had been deprived of their share of ABFA resources because the funds had been ring-fenced for the expressway.

It said the five per cent allocation due to the District Assemblies Common Fund was being paid from the Consolidated Fund, adding that this arrangement had also 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 maintained that the funding arrangement ensures the assemblies continue to receive their due allocation despite the decision to reserve ABFA resources for the infrastructure project.

The Ministry of Finance reaffirmed its commitment to providing PIAC with the information needed to carry out its oversight responsibilities and to ensuring public accountability in the management of petroleum revenues.

It added that relevant information would continue to be published through official reporting channels, including the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports.

The disagreement centres on the exclusion of ABFA utilisation data from PIAC’s 2026 Semi-Annual Report and the Ministry’s explanation of the information it says it provided to the committee.