BUSINESS

Mahama Pledges Prudent Use of Oil Revenue for $10bn Infrastructure Agenda

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By Samuel Asamoah

President John Dramani Mahama has reaffirmed his commitment to the efficient and transparent use of Ghana’s petroleum revenues to finance his government’s ambitious $10 billion infrastructure drive, known as the “Big Push.”

Speaking during a courtesy meeting with the Public Interest and Accountability Committee (PIAC) at the Jubilee House, the President emphasized that the multi-year initiative will be implemented with strict financial discipline and oversight. The PIAC delegation, led by Chairman Mr. Constantine K.M. Kudzedzi, paid the visit to congratulate President Mahama on his re-election and to engage on issues concerning the governance of the country’s oil wealth.

Outlining the framework of the “Big Push,” President Mahama disclosed that $2 billion would be invested annually over a five-year period to finance major infrastructure across key sectors such as transportation, health, education, and agriculture.

According to him, significant attention will be given to agriculture-linked infrastructure, including the development of irrigation systems, establishment of farmer service centers, and support for agribusiness growth — all designed to enhance productivity and rural livelihoods.

He further noted that funding for the initiative would primarily come from petroleum revenues and mineral royalties, assuring the PIAC delegation that every cedi would be accounted for through stringent oversight and fiscal prudence.

President Mahama also commended PIAC for its crucial watchdog role in ensuring transparency in the management of petroleum resources. He praised the Committee’s work as a model for best practices in resource governance and encouraged it to continue holding institutions accountable to the people.

 

 

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