196.38 million of Ghana’s oil money was spent on free SHS in 2017

Government spent 8.66 million cedis of an estimated 700 million cedis of the Annual Budgetary Allocation from oil proceeds on health in 2017.

Similarly, about 49.07 million cedis representing 3 per cent of the total allocation was spent on agriculture.

Education received 202.38 million cedis representing 61 percent.

These were contained in the 2017 PIAC Annual Report which was launched in Takoradi in the Western Region on Monday June, 25.

Again, a total of 196.38 million cedis representing 97 percent went into the free senior high school programme.

READ: ‘You can’t use oil revenue to fund Free SHS’ – Kwakye-Ofosu

Road, rail and other critical infrastructure received 41.62 million cedis while 29.22 million cedis was spent on GIIF. The remaining 1.35 million cedis representing 0.4 percent went into the activities of PIAC.

In all about 332.29 million cedis of the total Annual Budgetary Fund Allocation of 736.03 million cedis was utilized, leaving 403.74 million cedis unutilized.

The report stated the fact that the Annual Budgetary Allocation was not fully utilized even though the entire amount had been budgeted for, suggests budget non – compliance on the part of the Ministry of Finance.

It therefore recommended that parliament takes steps to ensure the ministry complies with the budget as approved.

According to the report, expenditure as reported by the Ministry of Finance does not conform to the requirement to spend at least 70 percent of the Annual Budgetary Allocation.

The 2017 Annual PIAC Report urged the ministry of finance to comply with the provision of Section 21(4) of Act 815 in respect of public investment expenditure.

Deputy Western Region Minister, Gifty Eugenia Kusi in an address said government’s commitment to using petroleum revenue for human development has manifested in the amount spent on education.

She outlined some benefits the region has derived from petroleum revenue.

“In addition to benefitting from the free SHS programme, the Western Region also hosts huge national assets – the Atuabo Gas Processing Plant and the ENI’s offshore receiving facility at Sanzule.”

“The region is also a beneficiary of the ongoing Ngyiresia Sea Defence Project to protect fisherfolks and fishing communities, the bitumen surfacing of the Elubo – Enchi Road, the reconstruction of the Asankagua – Enchi road, the rehabilitation of the Juaboso – Akontombra road, a 6 unit classroom block at Dadieso Primary School”.

Source:Eric Adjei|Connect FM|3news.com|Ghana