Ghana’s Petroleum Funds have recorded a significant boost, with their total book value reaching $1.4 billion by the end of December 2024, according to the Bank of Ghana’s latest report on the second-half performance of the funds.
The report, issued under the Petroleum Revenue Management Act (PRMA), highlighted a surge in oil revenue, driven by $543 million accrued from crude oil lifting and an additional $144 million from sources such as corporate taxes, surface rentals, and income from the Petroleum Holding Fund (PHF).
In line with the PRMA’s allocation framework, $454 million was disbursed to the country’s petroleum funds.
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Of this amount, $317 million was channeled into the Ghana Heritage Fund, which secures long-term savings for future generations, while $136 million was allocated to the Ghana Stabilization Fund to support the economy in times of fiscal shocks.
The steady growth of the funds underscores the positive impact of prudent revenue management and rising oil production.
The Bank of Ghana has scheduled the 2024 distributions to the petroleum funds for January 26, 2025, ensuring continuous support for Ghana’s fiscal sustainability goals.
This latest milestone further cements the role of Ghana’s petroleum sector as a key driver of economic stability and investment growth.
