Oil funds for ‘Big Push’ will be efficiently used – Mahama tells PIAC

President John Dramani Mahama has assured members of the Public Interest and Accountability Committee (PIAC) that oil revenues earmarked for his proposed $10 billion “Big Push” infrastructure initiative will be efficiently disbursed and managed.

The President gave the assurance during a courtesy call by the PIAC members. Led by its Chairman, Mr Constantine K.M. Kudzedzi, the Committee members visited to congratulate the President on his recent election victory and discuss matters concerning the management of Ghana’s oil revenues.

President Mahama outlined his government’s ambitious plan to invest $10 billion over the next five years, allocating $2 billion annually, into priority infrastructure projects across the country.

These projects will target key sectors, including roads, major bridges, education, and health infrastructure, as well as areas vital for boosting productivity in the agriculture sector.

He specified that agricultural projects under the “Big Push” would encompass irrigation schemes, construction of farmer service centres, and support for agribusiness development.

The President stated that the primary sources of funding for this significant policy initiative would be petroleum revenue and minerals royalties.

Commending PIAC for its vital role, President Mahama praised the Committee’s efforts in monitoring and ensuring transparency and accountability in the utilisation of Ghana’s petroleum revenues.

He highlighted PIAC as a commendable model for other countries seeking effective oversight mechanisms.