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Finance Ministry fails to account for ABFA for 3rd time – PIAC

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The Ministry of Finance has for the third consecutive year failed to account for unutilised Annual Budget Funding Amount (ABFA) of oil revenues,the Public Interest and Accountability Committee (PIAC) has disclosed.
In its 2019 annual report on the management and use of petroleum revenues launched in Accra yesterday, the committee revealed that the amount stood at GH¢1.5 billion at the end of 2019.
The ministry was also cited for violating portions of the Petroleum Revenue Management Act (PRMA) 893 and Ghana Investment Infrastructure Fund (GIIF) Act 877.
The Chairman of the Committee, Mr Noble Wadzah has therefore urged parliament to bring its oversight mandate to bear on the ministry’s “impunity and failure for not accounting for unutilised ABFA” and other violations.
The 2019 PIAC Report covering the period January to December, encompasses issues including the management and utilisation of petroleum revenues and findings pertinent to the performance of various institutions in the sector.
It is inline of PIAC’s statutory obligation under the Petroleum Revenue Management (Amendment) Act, 2015 (Act 893), which enjoins PIAC to publish reports to keep the citizenry updated on petroleum revenue and solicit feedback.
Giving highlights of key findings of the report, Mr Wadzah said the total ABFA available for spending last year was GH¢2.7 billion out of which GH¢1.2billion was utilised leaving a balance of GH¢1.5 to be utilised and accounted for.
“For the third consecutive year, not only has a sizeable proportion of the ABFA not been fully utilised but it has not been accounted for, impeding PIAC’s appreciation of the full scope of accounting to the public on the utilisation of our petroleum revenues “, he said.
In the same period, he disclosed that 45.14 per cent of the actual ABFA was spent on recurrent expenditure, with 54.86 per cent on capital expenditure in violation of Section 8(4) (a) of Act 893 which required that a minimum of 70 per cent be spent on public investment expenditure.
Additionally, he said for the second consecutive year, “there was no allocation from the ABFA to the Ghana Infrastructure Investment Fund (GIIF), contrary to the provisions of the PRMA and GIIF Act 877.”
The PIAC report reiterated its call on Parliament to restrict portions of the Ghana National Petroleum Corporation’s (GNPC) corporate social responsibility (CSR) and guarantees to state institutions, especially since the corporation was unable to respond to some of its cash calls.
It disclosed that the corporation provided guarantees amounting to US$645.5 million to state-owned enterprises (SOEs) last year and was almost double, compared with the previous years’ guarantees while it outweighed its total equity financing expenditure of US$164.79 million for the period.
“GNPC’s expenditure on Corporate Social Initiatives (CSI) remains high, increasing from GH¢41.49 million in 2018 to GH¢49.98 million in 2019”, the report stated.
The report also asked the government to address the indebtedness of the Ghana National Gas Corporation as it was unable to pay $334.6 million worth of raw gas received from GNPC, largely due to Volta River Authority’s debt.
The report revealed that US$925.04 million was disbursed from the Petroleum Holding Fund for the period under review, constituting a decrease of 5.33 per cent from that of 2018, and 14.41 per cent less than projected for 2019.
On production, the report said, a total of 71.4 million barrels of oil was obtained from the three production fields, exceeding 2018 production by 15 per cent while gas production shot up by 85 per cent to 169,508.61 million standard cubic feet of gas.
The President of the Ghana Journalist Association (GJA) Roland Affail Monney, commended PIAC for keeping Ghanaians up to speed about the oil sector and urged it to continue living up to expectation.
Source: Ghanaian Times
News
Tain residents in shock as husband allegedly kills wife, commits suicide
Residents of Brodi, a farming community in the Tain District of the Bono Region, have been left in shock and mourning following the alleged murder of a 45-year-old woman by her husband, who later died by suicide.
According to information gathered by the Ghana News Agency (GNA), the suspect, popularly known as Kwabena Jack, believed to be in his 50s, allegedly attacked and killed his wife, Abena Donkor, while the couple were working on their farm on Monday, August 11, 2026.
Mr Kingsley Obah, Assembly Member for the Brodi Electoral Area, confirmed the incident to the GNA.
He explained that after news of the woman’s death spread through the community, residents launched a search for the suspect. His lifeless body was later discovered in a nearby bush on Tuesday, August 12, 2026.
Police have since conveyed both bodies to the Tain District Government Hospital, where they have been deposited for preservation and autopsy.
Investigations into the incident are ongoing. -GNA
News
Chaos at Madina REDCO… Hawkers, preachers take over footbridge

Hawkers and roaming preachers have taken over the five-metre high Madina REDCO footbridge and adjoining streets, making it increasingly difficult for pedestrians to use the facility intended to promote safe road crossing.
The traders have virtually turned sections of the footbridge into a marketplace, displaying their wares on the floor using jute sacks, plastic sheets and metal trays, while others have occupied both sides of the walkway with their merchandise.
Foodstuffs such as okro, garden eggs, pepper, onions, dried fish, smoked fish, grains, spices and other groceries are openly sold on the footbridge and along the roadside, forcing pedestrians to weave through the crowded path.
Clothing and fashion accessories including slippers, brassieres, panties, socks, bags and other household items are also displayed for sale, leaving only limited space for commuters to use.
The situation is worsened by the presence of itinerant preachers who position themselves on the footbridge with public address systems to evangelise, drawing crowds to further obstruct pedestrian movement.
Head porters are also seen crossing the highway through the median while carrying heavy loads instead of using the footbridge, exposing themselves to the danger of being knocked down by speeding vehicles.
Also, portions of the footbridge are showing signs of deterioration. Several metal railings are rusted, bent and loosely secured with pieces of wire, raising concerns about the safety of users, especially children, the elderly and persons with disabilities.
Sections of the concrete surface are worn and chipped, while makeshift wooden supports attached to parts of the structure suggest temporary repairs.
After a visit by The Spectator last week, it emerged that many commuters preferred crossing the busy Madina Highway instead of using the footbridge because of the congestion created by the trading and preaching activities.
For years, successive attempts by the police, the military and the La Nkwantanang Madina Municipal Assembly to address congestion around the REDCO and Zongo Junction enclave have yielded little success, with the area becoming notorious for roadside trading, indiscriminate parking and pedestrians refusing to use the footbridge.
A pedestrian, who gave her name only as Maame Yaa, described the situation as worrying, saying the footbridge, which was constructed to protect lives, had gradually lost its purpose because of the growing encroachment by traders and preachers.
According to her, many pedestrians were discouraged from using the facility because navigating through the crowded walkway had become difficult and uncomfortable.
She appealed to the La Nkwantanang Madina Municipal Assembly and other relevant authorities to intensify enforcement to prevent unauthorised trading and other activities on the footbridge and ensure it served its intended purpose of promoting pedestrian safety.
However, during the visit, personnel of the Ghana National Fire Service (GNFS) were seen carrying out a decongestion exercise to remove hawkers from sections of the roadside around the footbridge as part of efforts to improve public safety and ease the movement of both pedestrians and motorists.
The exercise forms part of a pilot project initiated by the Municipal Fire Commander for Madina, Division Officer II (DO II) Abdul Salia, who assumed command of the Madina Municipal Fire Station three months ago.
Speaking in an interview with The Spectator, DO II Abdulai Salia, who is also a long time resident of the community, said the month long project began on July 1 and ended on July 31, with 30 firefighters deployed daily to regulate traffic, clear hawkers from the streets and footbridge, and create access for emergency vehicles.
Continued on page 12
By Esinam Jemima Kuatsinu




