Ghana's Big Push faces GHS110 billion funding gap over four years

Ghana's government plans to spend US$10 billion on infrastructure projects over four years. This initiative, called the 'Big Push', was promised to be funded by internal revenue. Specifically, petroleum revenue and mineral royalties were cited as the main sources.

However, an analysis of 2025 revenue data shows a funding gap. In 2025, US$433.2 million came from petroleum revenue. An additional US$413.7 million came from mineral royalties. This means the two main sources brought in US$846.9 million in 2025. At this rate, it would take more than 11 years to get the US$10 billion needed for the projects. The government has already awarded over US$7 billion in contracts.

The total petroleum revenue from 2011 to 2025 was US$11.58 billion. The Petroleum Revenue Management Act (PRMA) states that only money going to the Consolidated Fund/ABFA can be used for infrastructure. In 2025, just US$433 million went to this fund from petroleum.

For mineral royalties, the Minerals Income Investment Fund (MIIF) received GHS5.43 billion in 2025, which is US$517.1 million. A law change allows 80% of this to go to the Consolidated Fund for infrastructure. This means US$413.7 million from mineral royalties went to the fund in 2025.

The low revenue raises questions about how the government will pay for the awarded contracts, especially US$7 billion for roads. These projects are expected to finish by the end of 2027. If funding continues at the 2025 level, the government will need to find other ways to pay. This suggests the promise of funding without borrowing may not be possible.