Connect with us

Uncategorized

Ghana Has Earned $11.58 Billion From Oil Since 2011: Major Infrastructure Funded Amid Criticisms

Published

on


Since commercial oil production began in 2011 at the Jubilee Field, Ghana has accrued approximately $11.58 billion in revenues.

These funds have been channelled into critical infrastructure, education, and stabilization efforts, though experts criticize the absence of a unified long-term national development plan.

A detailed breakdown shows allocations including $3.15 billion to the Ghana National Petroleum Corporation (GNPC) for operational and exploratory costs, $2.6 billion to the Ghana Stabilisation Fund (with withdrawals for debt and budgets), and $1.1 billion to the Ghana Heritage Fund (now grown to about $1.3 billion through investments).

The largest portion, $4.5 billion via the Annual Budget Funding Amount (ABFA), has supported projects like Kotoka International Airport Terminal 3, the Kojokrom-Tarkwa railway line, Free Senior High School policy, and the ongoing “Big Push” road initiatives in 2025.

Revenue peaked at $1.43 billion in 2022 but has declined with falling production, recording $370 million in the first half of 2025.

Analysts praise visible gains in transport, education, and health but point to fragmented execution, delays, and cost overruns due to ad-hoc decisions rather than a Parliament-approved overarching strategy.

Comparisons to Norway’s sovereign wealth model highlight opportunities missed for intergenerational savings.

As production challenges persist, calls grow for transparent, strategic management to maximize benefits for future generations.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

From the Diaspora

Ghanaian PhD Students in UK Begin Mass Withdrawals Over Unpaid Scholarships, Facing Debt and Deportation

Published

on

A growing crisis is unfolding for Ghanaian PhD students studying in the United Kingdom, as many have started formally withdrawing from their doctoral programs due to the Ghanaian government’s failure to pay outstanding tuition fees and living stipends for nearly two years.

The students, represented by the Executive Body of the PhD Cohort-UK, have voiced deep frustration over the prolonged delays from the Ghana Scholarship Secretariat.

These delays have left scholars grappling with mounting debts, eviction notices, and restricted access to university resources, severely impacting their academic progress and personal well-being.

In a bid to draw attention to their plight, the PhD Cohort-UK has announced a series of demonstrations across major UK cities and at the Ghana High Commission in London. The two-day nationwide protest is set to commence shortly, aiming to compel Ghanaian authorities to fulfill their financial commitments.

“Our situation has reached a breaking point,” said one student, speaking anonymously to avoid repercussions. “I am in my final year of research. My university has blocked my library access and my portal. If the fees aren’t paid by the end of this month, my Tier 4 visa will be curtailed, and I will be deported with nothing but debt.”

Despite multiple petitions to the Office of the President at Jubilee House and the Ministry of Finance, the payments remain unsettled. In previous years, UK universities accepted “letters of comfort” from the Secretariat as assurance of future payment. However, many institutions are now demanding immediate settlement due to their own budgetary constraints, with some threatening to terminate student visas if obligations are not met.

The affected scholars have also turned to international support, petitioning UK Prime Minister Keir Starmer for humanitarian intervention. The petition states that the students’ legal and financial difficulties arise from a sovereign funding default, not from any shortcomings in their academic performance or conduct.

This situation reflects broader challenges in Ghana’s scholarship programs, raising questions about the government’s commitment to supporting higher education abroad and the long-term impact on the country’s human capital development.

As the protests loom, the PhD Cohort-UK continues to call for urgent action from Ghanaian officials to resolve the crisis and prevent further academic and personal hardships.

Continue Reading

Uncategorized

Ghana News Live Updates – January 12: Catch up on the major stories

Published

on

Welcome to your daily digest of key developments from Ghana. These stories are curated for a global audience interested in Ghanaian affairs.

Bookmark this page and return often—new stories will be added as they break.

One Dead, 37 Injured in Suhum-Mankrong Highway Collision

A tragic accident on January 11, 2026, claimed one life and injured 37 others on the Accra-Kumasi Highway at Mankrong in Suhum Municipality, Eastern Region. The crash involved a Zhong Tong bus (AS 7022-21) and a Man Diesel truck (GW 3969-U), both moving at the time. The Ghana National Fire Service (GNFS) responded to a distress call at 6:59 am, led by Assistant Divisional Officer II Bernard Boamah. The deceased was a passenger on the bus, with injuries affecting 21 males and 16 females; the truck occupants escaped unharmed. Some victims were transported to Suhum Government Hospital before GNFS arrival. Firefighters extricated the body, aided the injured, cleared debris, and restored traffic. The bus suffered severe front damage, while the truck had minor rear impact. Eyewitnesses cited high bus speed as a factor, with investigations ongoing.

IPGs Commend Ghana Government for Settling $1.47 Billion Energy Arrears

Independent Power Generators (IPGs) in Ghana have praised the government for clearing $1.47 billion in legacy energy sector debts within its first year, calling it a pivotal move for sector stability. This includes full repayment of $597.15 million (plus interest) on the World Bank’s Partial Risk Guarantee, restoring the $500 million facility and enhancing Ghana’s international standing. In a statement, IPGs lauded the Ministries of Finance and Energy and Green Transition for timely actions, noting improved payment mechanisms like the Cash Waterfall. The clearance, completed by December 31, 2025, boosts investor confidence, supports economic growth, and fosters sustainability. IPGs reaffirmed their partnership for Ghana’s energy security.

Public Officers Constitutionally Obliged to Account for Tenure, Asserts Kwaku Azar

Legal scholar Professor Stephen Kwaku Asare (Kwaku Azar) stated on January 11, 2026, via Facebook that Ghanaian public officers are constitutionally bound to account for their tenure, countering claims otherwise. He cited the constitution’s foundational principles of probity and accountability, including Article 37(1) for a social order based on these values, Chapter 24’s code of conduct against conflicts, and Article 286’s asset declaration requirements before, during, and after office.

Unexplained wealth is presumed unlawful under Article 286(4). Azar highlighted the Auditor-General’s auditing powers, CHRAJ’s role, criminal laws on abuse, elections as accountability mechanisms, media duties under Article 162(5), and citizen participation in Article 240(1)(e). He concluded accountability permeates the constitution, viewing public office as stewardship, not exploitation.

Bank of Ghana Reveals GH¢5.66 Billion Loss in 2024 Domestic Gold Purchase Programme

The Bank of Ghana (BoG) disclosed that losses from its Domestic Gold Purchase Programme (DGPP), initiated in June 2021 to stabilize the currency, escalated to GH¢5.66 billion in 2024. This surge compares to GH¢74 million in 2022 and GH¢1.37 billion in 2023, attributed to net losses in gold and oil transactions (Net G40) and artisanal/small-scale mining (ASM) segments (Net G4R). The programme serves as a reserve buffer. In 2025, BoG purchased 110.99 tonnes of gold (including 100.6 tonnes from ASM), valued at US$11.4 billion, awaiting external audit. Details emerged from a right-to-information request by Asempa FM’s Ekosiisen; the 2024 Annual Report omitted specifics, and no full G4R profit/loss report exists.

Former Finance Minister Amin Adam Criticizes NDC’s PR on Energy Debt Payments

Dr. Mohammed Amin Adam, ex-Finance Minister and Karaga MP, accused the NDC government of overhyping a $1.4 billion energy sector debt payment as a “PR gimmick,” deeming it routine rather than exceptional. He noted the previous NPP administration made a similar $1.4 billion payment in 2024 without publicity, as reflected in the 2025 Budget. Adam urged focus on transparency, consistency, and sustainable energy solutions, cautioning that selective narratives mislead the public. “The NDC government does PR with everything. Paying Energy Sector debts of $1.4 billion is not new,” he stated.

Labour Minister Projects 800,000 Jobs from Ghana’s Big Push Infrastructure Initiative

Minister of Labour, Jobs and Employment Dr. Rashid Pelpuo announced on January 12, 2026, that the Big Push Project—a massive nationwide infrastructure drive—will generate about 800,000 jobs across skill levels in 2026. Centered on road construction, it includes roles for engineers, supervisors, and workers, covering the entire country with projects like the Accra-Kumasi superhighway and regional networks. Described as unprecedented, the initiative will boost the economy through construction, machinery procurement, and spillover effects. Pelpuo stated: “It’s going to cover the whole country, and it’s going to be what has never happened in this country before.” The goal is to enhance infrastructure and propel Ghana toward middle-income status.

GTEC Approves University of Ghana Fees for 2025/2026 with No Academic Facility Increase

The Ghana Tertiary Education Commission (GTEC) has approved fees for the University of Ghana’s 2025/2026 academic year, freezing the Academic Facility User Fee at 2024/2025 levels. Other levies include: SRC dues (GH¢50), SRC Development Levy (GH¢150), GRASAG Development Levy (GH¢250), and Telecel Broadband Levy (GH¢122 for undergraduates, including freshmen). A one-time 75th Anniversary Levy of GH¢100 applies only this year. GTEC stressed student rights awareness, including opt-out options for certain levies, to ensure transparency. The move addresses fee schedule concerns. “This announcement seeks to resolve issues surrounding the 2025/2026 fee schedule… We are counting on the usual cooperation of all stakeholders,” per GTEC’s statement.

Mahama Heads to World Economic Forum After UK Meetings

President John Mahama left Accra on Sunday for the United Kingdom to meet with coordinators of the Accra Reset initiative, before traveling to Davos, Switzerland, for the World Economic Forum. He is set to join forum sessions and hold bilateral talks with global leaders, underscoring Ghana’s commitment to international economic discussions. This move comes amid efforts to strengthen Ghana’s position on the world stage.

Mahama Administration Clears $1.47 Billion Energy Debt, Revives World Bank Guarantee

In its first year, the Mahama government has settled US$1.47 billion in inherited energy sector debts, fully restoring the World Bank’s US$500 million Partial Risk Guarantee for the Sankofa Gas Project. This includes repaying US$597.15 million drawn on the guarantee and clearing US$480 million in gas invoices to ENI and Vitol. The actions prevent sector collapse, boost investor confidence, and secure future payments through budgetary measures, marking a significant turnaround from prior governance issues.

National Security Uses Clean-Up Drives to Combat Prostitution in Tamale

In an unconventional approach, National Security operatives in Ghana’s Northern Region have initiated public clean-up exercises in Tamale to deter street prostitution. Collaborating with migration authorities, they arrested women in hotspots and required them to sweep streets and collect refuse as a disciplinary measure. While some locals praise it for promoting hygiene and order, critics argue it overlooks underlying causes like poverty. This is part of wider regional efforts against drugs and social vices.

Ghana Pays $393 Million to IPPs in Energy Sector Overhaul

As part of a broader US$1.47 billion debt clearance, the Mahama administration disbursed US$393 million to Independent Power Producers (IPPs) in 2025, including major payments to Karpowership, Cenpower, and Sunon Asogli. These steps, combined with renegotiated contracts and a Cash Waterfall Mechanism, aim to stabilize electricity supply, prevent future arrears, and shift toward domestic gas production. Officials hail it as ending unchecked debt accumulation and restoring sector stability.

2026: Pivotal Year for Ghana’s Cannabis Industry, Says Chamber

The Chamber of Cannabis Industry Ghana labels 2026 as a critical juncture for the medicinal and industrial cannabis sector, post-2020 legalization of low-THC varieties. CEO Dr. Mark Darko calls for swift policy execution, including finalizing fees and guidelines, to harness opportunities in pharmaceuticals, exports, and job creation while ensuring compliance and public safety. The focus is on long-term, data-driven growth through stakeholder collaboration to integrate Ghana into global markets.

Criticism Mounts: Mahama’s Government Not Lean, Claims Bawumia Campaign Director

Dennis Miracles Aboagye, from the Bawumia Campaign, accuses President Mahama’s administration of bloating government despite appointing only 56 ministers, arguing that presidential staffers at Jubilee House function like deputy ministers with significant authority. Drawing from past experience, he insists true efficiency assessments must include these roles. This critique emerges in Ghana’s politically charged environment, questioning the NDC’s commitment to streamlined governance in its inaugural year.

Nigerian Investments Inject $103 Million into Ghana’s Economy in 2025

Dispelling myths of an informal “retail takeover,” official data shows Nigerian investors channeled US$103.61 million into Ghana via nine projects in the first nine months of 2025, focusing on general trade and wholesale. This created prospects for 9,498 jobs, mostly for Ghanaians, with a Q2 surge exceeding investments from China and the UAE. The Ghana Investment Promotion Centre highlights these structured inflows as boosting economic ties between the two nations.

Western Regional Minister Advocates Drones to Halt Illegal Mining at River Origins

Joseph Nelson, Western Regional Minister, proposes drone technology for surveillance at river sources to curb illegal mining (galamsey), criticizing current downstream efforts as insufficient against upstream pollution in rivers like Ankobra and Pra. This follows a military operation seizing equipment in Amenfi Central, exposing severe environmental and infrastructural damage. Security officials stress sustained monitoring to prevent resurgence, amid local complaints of disrupted livelihoods.

IGP’s FBI Badge Explained: Symbol of Ghana-US Security Partnership

Ghana’s Inspector General of Police, Christian Tetteh Yohunu, wore a commemorative FBI New York Field Office badge at the 2025 WASSA event in Accra, sparking online curiosity. The pin, received during an October 2025 delegation visit to the FBI, signifies enhanced cooperation on cyber fraud, intelligence, and counterterrorism. It falls under the FBI’s Honorary Medals Programme for international allies.

Check back soon for updates as more developments unfold across Ghana and the global community.

Continue Reading

Uncategorized

UCC Medical Star Henry Arnold Gyamfi Sweeps 10 Awards at 2025 Graduation

Published

on

Henry Arnold Gyamfi. Credit: University Of Cape Coast (UCC) on Facebook

Henry Arnold Gyamfi, a brilliant graduate from the University of Cape Coast (UCC) School of Medical Sciences, made history at the 2025 congregation.

The new graduate secured 10 out of 25 available awards, showcasing exceptional academic and clinical excellence.

The former student of T.I. Ahmadiyya Senior High School and trained Physician Assistant swept prizes, including:

  • Best Graduating Student in Community Medicine;
  • Best Graduating Student in Obstetrics & Gynaecology;
  • Best Graduating Student in Paediatrics;
  • Best Graduating Student in Internal Medicine;
  • Best Graduating Student in Radiology;
  • Best Graduating Student in Neuroscience;
  • Best in Clinical Examination;
  • Best Graduating Male Student;
  • Best Male Medical Student; and the coveted
  • Overall Best Performance award.

Sponsored throughout his medical studies by Asantehene Otumfuo Osei Tutu II, Gyamfi expressed gratitude for the support that enabled his achievements.

He plans to complete housemanship before specializing in internal medicine with a subspecialty in cardiology, aiming to contribute to Ghana’s healthcare system.

UCC Vice-Chancellor Prof. Rosemond Boohene praised Gyamfi as an inspiration for aspiring medical professionals, stressing dedication and perseverance.

His remarkable feat underscores the high standards of medical training in Ghana and the impact of royal patronage on education.

Continue Reading

Trending