Accra: The government has announced a plan to construct the Accra-Kumasi Expressway using internally generated funds, avoiding new loans. Cassiel Ato Forson, speaking at the Ishmael Yamson and Associates Business Roundtable, revealed that the project would cost around $4 billion but expressed confidence in funding it fully without borrowing by 2027.
According to Ghana Web, Forson highlighted a strategic shift in the use of oil revenue, focusing on infrastructure development. New legislation mandates that petroleum revenues be allocated solely for infrastructure, a change from previous practices that spread funds across various expenditures with limited impact.
Forson detailed that Ghana earned approximately $500 million from oil in 2025, with an additional $500 million from mineral royalties due to high gold prices. These funds, along with other projected revenues, are designated for the expressway project.
He criticized past spending practices, noting that oil money will no longer be used for travel, conferences, and other recurring expenses. Forson emphasized the government's commitment to focusing on significant infrastructure projects, stating that after 2027, attention will shift to another project, gradually building the country's future.