Allocation

Allocation Overview

A comprehensive breakdown of how petroleum revenues are distributed across key sectors in Ghana, ensuring transparency and accountability in resource management.

100% of petroleum revenues are deposited into the Petroleum Holding Fund before any disbursement occurs
Disbursement Allocation
National Oil Company
Allocation
15%
$247M
2024 Allocation
7.2%
YoY Growth
Funds GNPC operations and investments in petroleum activities
Consolidated Fund
Allocation
70%
$1.15B
Annual Budget Funding
12.3%
YoY Growth
Supports 120+ development projects nationwide
Ghana Petroleum Fund
Allocation
15%
$247M
2024 Allocation
70%
Stabilisation
30%
Heritage
Saving for future generations and economic stability
Exceptional Purposes
Status
As Needed
$33.5M
Last Allocation (2023)
52.8%
YoY Change
Special allocations as defined by the PRMA, requires parliamentary approval
$1.64B
Total 2024 Revenue
+12.8%
YoY Growth
9.3%
of GDP
$3.2B
Heritage Fund Balance

All allocations are governed by the Petroleum Revenue Management Act, ensuring transparency and accountability in the management of Ghana's petroleum resources.

Petroleum Revenue Allocation Overview

Comprehensive breakdown of how Ghana's petroleum revenues are collected and distributed across various sectors through the Petroleum Holding Fund.

100% of petroleum revenues are first deposited into the Petroleum Holding Fund (PHF) as mandated by the Petroleum Revenue Management Act (PRMA) before any disbursement occurs
Filter Data:
Total Petroleum Revenue
$1.43B
18.7% from 2022
Production Volume
72.6M
barrels of oil equivalent
5.2% from 2022
Average Price
$84.57
per barrel
3.8% from 2022
Ghana Petroleum Funds
$1.12B
total balance
22.3% from 2022
Revenue Allocation & Disbursement
2023 Revenue Distribution
2023
ABFA (Annual Budget Funding Amount): 70%
GNPC (National Oil Company): 15%
Ghana Stabilisation Fund: 10.5%
Ghana Heritage Fund: 4.5%
Historical Disbursement Trends (USD Millions)
2019
2020
2021
2022
2023
ABFA
GNPC
Ghana Petroleum Funds
National Oil Company (GNPC)
Statutory Allocation
15%
$214.5M
2023 Allocation
+18.7%
YoY Growth
Funds GNPC operations, investments in petroleum activities, and capacity building. 2023 spending focused on the Voltaian Basin exploration and Jubilee field expansion.
Annual Budget Funding Amount
Statutory Allocation
70%
$1.001B
2023 Allocation
+18.7%
YoY Growth
Supports priority areas including agriculture, education, health, roads, and infrastructure. In 2023, 67% went to infrastructure development and 21% to education initiatives.
Ghana Petroleum Funds
Statutory Allocation
15%
70%
Stabilisation
30%
Heritage
$214.5M
2023 Allocation
The Stabilisation Fund cushions budget shortfalls while the Heritage Fund saves for future generations. The funds earned $54.3M in investment income in 2023.
Exceptional Purposes
Status
As Needed
$0
2023 Allocation
-100%
YoY Change
Special allocations as defined by the PRMA, requiring parliamentary approval. No exceptional withdrawals were made in 2023, compared to the COVID-19 related withdrawal in 2022.
Annual Budget Funding Amount (ABFA) Usage
ABFA Priority Areas Spending (2023)
Infrastructure
67%
Education
21%
Health
8%
Agriculture
2%
Other
2%
$6.63B
Cumulative Revenue Since 2011
364.2M
Total Barrels Produced
$826.4M
Stabilisation Fund Balance
$293.3M
Heritage Fund Balance

All allocations are governed by the Petroleum Revenue Management Act (PRMA), ensuring transparency and accountability in the management of Ghana's petroleum resources.