Finance Ministry says all 2026 ABFA allocations reserved for Accra-Kumasi expressway

The Ministry of Finance has defended its management of the Annual Budget Funding Amount (ABFA), insisting that all allocations realised in 2026 have been set aside for the Accra-Kumasi Expressway project.

The Ministry said it had not withheld information on the utilisation of ABFA resources from the Public Interest and Accountability Committee (PIAC), rejecting concerns raised in the committee’s 2026 Semi-Annual Report.

In a statement responding to PIAC’s report issued on October 21, 2026, the Ministry explained that the funds had been ring-fenced for the expressway and would be deployed once the contract for the project was awarded.

It cited paragraph 572 of the 2026 Mid-Year Fiscal Policy Review, which indicated that all funds allocated to the project, including the total ABFA realised in 2026, had been reserved for the undertaking.

The Ministry said it had furnished PIAC with information on petroleum revenue receipts, distribution data and the arrangements governing the use of ABFA resources.

It explained that directing the funds towards the expressway was consistent with PIAC’s recommendation that petroleum revenues should not be spread across numerous projects with limited economic impact.

According to the Ministry, the approach was intended to finance a major infrastructure investment with clear national benefits and value for money.

It added that officials had explained the funding arrangements to PIAC during a virtual validation workshop and subsequent face-to-face engagements, which covered petroleum revenue receipts, distribution and the framework for using ABFA resources.

The Ministry maintained that the absence of details on ABFA utilisation in PIAC’s report should not be interpreted as evidence that information had been withheld.

On the five per cent share of ABFA allocated to the District Assemblies Common Fund (DACF), the Ministry said the amount was being paid from the Consolidated Fund.

It added that PIAC had been informed of the arrangement and that Metropolitan, Municipal and District Assemblies had not been disadvantaged by the decision to reserve ABFA resources for the expressway project.

The Ministry reiterated its commitment to providing PIAC with the information required to perform its oversight functions and ensuring accountability in the management of petroleum revenues.

It said relevant information would continue to be published through the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements and other fiscal reports.