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.
In a press release issued on October 23, the Ministry said the claim, contained in PIAC's 2026 Semi-Annual Report, is inaccurate, stating that it provided the Committee with petroleum receipts and distribution data and explained the arrangements governing the utilisation of ABFA resources, including the ring-fencing of funds for the Accra-Kumasi Expressway.
The Ministry explained that ABFA resources have been ring-fenced for the Accra-Kumasi Expressway. As stated in paragraph 572 of the 2026 Mid-Year Fiscal Policy Review, all funds allocated to the project, including the total ABFA realised in 2026, have been ring-fenced and will be used for construction when the contract is awarded.
It noted that the decision to concentrate ABFA resources on the expressway follows PIAC's recommendation to move away from spreading petroleum revenues thinly across numerous projects with limited economic impact, and is intended to deliver a major infrastructure investment with clear national benefits and value for money.
The Ministry stated that these arrangements were explained to PIAC during a virtual validation workshop and in-person meetings. It added that the exclusion of ABFA utilisation data from PIAC's report should therefore not be presented as evidence that the Ministry withheld information.
On the District Assemblies, the Ministry clarified that the 5 per cent share of ABFA due to the District Assemblies Common Fund is being paid from the Consolidated Fund, an arrangement it explained to PIAC during engagements.
It stressed that Metropolitan, Municipal, and District Assemblies have therefore not been shortchanged by the decision to ring-fence ABFA resources for the expressway.
The Ministry affirmed that it will continue to provide PIAC with information required to discharge its mandate and account publicly for the management of petroleum revenues.