{
  "id": 16182072,
  "title": "Finance Ministry rejects claim it withheld ABFA data from PIAC",
  "url": "https://urgent.news/2026/10/23/finance-ministry-rejects-claim-it-withheld-abfa-data-from-piac-16182072",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-23T11:13:46.000Z",
  "source": {
    "name": "Joy Business",
    "slug": "joy-business",
    "url": "https://www.myjoyonline.com/finance-ministry-rejects-claim-it-withheld-abfa-data-from-piac/"
  },
  "original_language": "en",
  "account": "The Finance Ministry has denied allegations that it concealed data on the use of the Annual Budget Funding Amount (ABFA) from the Public Interest and Accountability Committee (PIAC). A statement released on Friday, October 23, 2026, affirmed that the Ministry had provided PIAC with petroleum receipts and distribution data, along with an explanation of the guidelines governing ABFA usage, including the set-aside funds for the Accra–Kumasi Expressway. The clarification came after PIAC's own October 21 statement raising concerns over the omission of ABFA utilization figures from its 2026 Semi-Annual Report. The Ministry emphasized that the exclusion of ABFA utilization data from PIAC's report should not be seen as the Ministry withholding information. Officials had engaged with PIAC in a virtual validation workshop and in-person meetings to elucidate petroleum revenue receipts, distribution, and ABFA utilization processes. Regarding the Accra–Kumasi Expressway, the Ministry referred to paragraph 572 of the 2026 Mid-Year Fiscal Policy Review, stating that all funds earmarked for the project, including the total ABFA realized in 2026, have been earmarked. The funds will be deployed for construction once the contract is awarded. The Ministry defended its decision to concentrate resources on the expressway, citing PIAC's recommendation to avoid dispersing petroleum revenues across projects with limited economic impact. It argued that focusing the resources on the expressway would deliver a significant infrastructure investment with clear national benefits and ensure value for money. The Ministry also refuted claims that District Assemblies had been deprived of their share of ABFA resources. It clarified that the five percent allocated to District Assemblies Common Fund is drawn from the Consolidated Fund, a point it had previously explained to PIAC. The Ministry reiterated its commitment to supplying PIAC with the necessary information to fulfill its mandate and to maintain public transparency regarding petroleum revenues. It added that further details will be disseminated in the Annual Report on Petroleum Funds, Petroleum Reconciliation Reports, Budget Statements, and other fiscal reports.",
  "summary": "According to the Ministry, officials participated in PIAC’s virtual validation workshop and held in-person meetings with the Committee to explain petroleum revenue receipts, distribution and the arrangements for ABFA utilisation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}