Finance Ministry rejects claims of withholding ABFA data from PIAC
Story by: Regina Bless
The Ministry of Finance has rejected claims 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 the necessary details on petroleum revenue receipts and allocations.
In a press release dated Friday, October 23, 2026, the Ministry said it had explained the arrangements governing the use of ABFA resources, including the decision to ring-fence funds for the Accra–Kumasi Expressway project.
The Ministry stated that all funds allocated to the expressway, including the total ABFA realised in 2026, had been set aside for the project and would be used for construction once the contract is awarded.
According to the Ministry, the decision to concentrate ABFA resources on the expressway followed PIAC’s recommendation to avoid spreading petroleum revenues across numerous projects with limited economic impact.
It explained that the approach was intended to support a major infrastructure investment that would deliver clear national benefits and value for money.
The Ministry further indicated that its 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.
It therefore argued that the omission of ABFA utilisation data from PIAC’s 2026 Semi-Annual Report should not be interpreted as evidence that information had been withheld.
On concerns regarding the allocation of funds to District Assemblies, the Ministry clarified that the five per cent share of ABFA due to the District Assemblies Common Fund (DACF) was being paid from the Consolidated Fund.
It maintained that Metropolitan, Municipal and District Assemblies had not been shortchanged by the decision to reserve ABFA resources for the expressway, adding that the arrangement had been explained to PIAC.
The Ministry reaffirmed its commitment to providing PIAC with information needed to fulfil its oversight mandate and to ensuring public accountability in the management of petroleum revenues.
It added that relevant details would continue to be published in the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports.