Ghana petroleum revenue surges 52% amid data transparency dispute

Ghana's petroleum revenue rose 52% in the first half of 2026, reaching US$561.41 million, compared to US$370.34 million during the same period in 2025. According to the Public Interest and Accountability Committee (PIAC), this windfall was primarily driven by higher global crude oil prices and increased corporate income tax collections rather than production volume, which grew by only 11.73%.

PIAC has raised concerns regarding gaps in accountability, noting that its 2026 semi-annual report lacks data on the utilization of the Annual Budget Funding Amount (ABFA) and Ghana National Petroleum Corporation (GNPC) allocations. The committee stated that relevant information was not received by the time the report was finalized, limiting its ability to assess how funds were actually spent.

Ghana's Ministry of Finance has rejected claims that it withheld information. The Ministry stated it provided petroleum receipts and distribution data and held meetings to explain the administrative arrangements for ABFA resources. The Ministry specifically noted that funds have been ring-fenced for the Accra–Kumasi Expressway, a decision intended to concentrate resources on major infrastructure rather than spreading them thinly across smaller projects.