Energy Analyst, Kwame Jantuah, says the recent amendment to the Petroleum Revenue Management Act (PRMA) must translate into meaningful economic transformation and ensure Ghanaians fully benefit from the country’s oil wealth.
He maintains that such legislative changes must be strategic and aligned with the country’s long-term development priorities — with a deliberate focus on channeling oil revenues into key sectors such as infrastructure, energy diversification, and industrialization.
Speaking during a stakeholder engagement hosted by the Public Interest and Accountability Committee (PIAC) on X (formerly Twitter), Kwame Jantuah questioned the implementation of such reforms
“If they are going to review the PRMA especially in terms of revenue is it going to be more on a personal level or a country level because they bring out the fine laws but when it comes to the implementation it turns to be something else,” he said.
He also raised concerns about stakeholder inclusion in the reform process: “How can CSOs or institutions like PIAC be at the table when certain decisions are being taken with regards to the PRMA? If all the offshore basins were producing can you imagine the quantum of money that will come into this country.”
His comments follow the recent passage and signing into law of the Petroleum Revenue Management (Amendment) Bill, 2025 by President John Dramani Mahama on April 2.
The amendment mandates that the entire Annual Budget Funding Amount (ABFA) be directed exclusively toward infrastructure development — a shift from previous allocations across multiple sectors, which critics say diluted the impact of oil revenue spending.
Government says the move will support its ‘Big Push’ agenda by funding transformative, high-impact legacy projects across the country.
