- Parliament adopts a committee report recommending amendments to Act 815 to boost investment returns from petroleum revenues
- Eric Afful says the review aims to increase yields on the Petroleum Fund from 1% to about 8%
- Finance Minister Dr. Ato Forson proposed the reform after presenting the 2026 Budget
Parliament on Tuesday approved a committee report recommending a review of the Petroleum Revenue Management Act, Act 815, to allow government to channel Ghana’s petroleum revenues into investments that yield higher returns.
The approval follows the presentation of the report by Eric Afful, Chair of Parliament’s Economy and Development Committee, who urged lawmakers to endorse the proposed amendments to help maximise earnings from petroleum revenue.
The move stems from a proposal by Finance Minister Dr. Cassiel Ato Forson on November 13, shortly after he presented the 2026 Budget Statement.
According to Mr. Afful, the review aims to boost returns on petroleum investments—particularly the Petroleum Fund—by raising interest yields from the current 1% to about 8%. He noted that this would strengthen Ghana’s fiscal buffers and provide greater funding for national development projects.
In his budget presentation, Dr. Forson indicated that the Investment Advisory Committee had recommended a reassessment of the Act to ensure prudent management of petroleum revenues and to improve investment performance.
The Finance Minister added that the planned amendments are consistent with international best practices and will uphold transparency and accountability in the use of petroleum funds.
