Finance Ministry denies withholding ABFA data from PIAC

The Ministry of Finance has rejected claims that it withheld information regarding the utilization of the Annual Budget Funding Amount (ABFA) from the Public Interest and Accountability Committee (PIAC). 

In a statement issued on Friday, October 23, 2026, the ministry said it had duly provided PIAC with petroleum receipts and distribution data, while also explaining the administrative arrangements governing ABFA resources, including funds ring-fenced for the Accra–Kumasi Expressway. 

The clarification comes in response to a PIAC statement dated October 21 concerning the omission of ABFA utilization data from its 2026 semi-annual report.

 “The exclusion of ABFA utilization 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 thoroughly brief members on petroleum revenue receipts, distribution, and ABFA allocation frameworks.

Regarding the Accra–Kumasi Expressway, the ministry cited paragraph 572 of the 2026 Mid-Year Fiscal Policy Review,which states that all funds allocated to the project—including the total ABFA realized in 2026—have been ring-fenced.

These funds will be disbursed for construction once the contract is officially awarded. The ministry noted that this decision aligns with PIAC’s previous recommendation to halt the practice of spreading petroleum revenues thinly across numerous projects with minimal economic impact. 

Concentrating resources on the expressway, it explained, is designed to deliver a high-impact national infrastructure investment that offers genuine value for money. Furthermore, the ministry dismissed suggestions that District Assemblies had been deprived of their rightful share of ABFA resources. 

It clarified that the 5% statutory share due to the District Assemblies Common Fund is being paid directly from the Consolidated Fund—an arrangement that was previously communicated 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 emphasized. 

The ministry reaffirmed its dedication to supplying PIAC with all data necessary to fulfill its oversight mandate and to maintaining transparent public accountability regarding petroleum revenues. 

It added that relevant details will continue to be published in the Annual Report on Petroleum Funds, petroleum reconciliation reports, budget statements, and other official fiscal documents.