Ghana’s oil revenues: Unmasking the transparency gaps

A pioneering initiative is addressing the persistent issue of transparency in Ghana’s oil sector, calling for increased accountability in revenue expenditures.

“From Disclosure to Impact- Mobilizing Local Civil Society to Verify Published Extractives Data and Advocate for Equitable, Accountable Spend of Funds” an Annual Budget Funding Amount (ABFA) -funded project supported by the Africa Centre for Energy Policy (ACEP) and undertaken by the Ghana Anti-Corruption Coalition (GACC) and its Local Accountability Networks, is shifting the conversation from financial disclosures to real-world outcomes—independently verifying whether oil-funded projects are making a tangible difference in communities.

For years, concerns over the opaque management of Ghana’s petroleum revenues have persisted, with communities often left unaware of how oil funds are allocated or whether promised infrastructure projects are ever completed.

This initiative seeks to ensure that oil wealth is converted into meaningful development rather than dissipating into unfulfilled promises or incomplete projects.

Beyond Disclosure: A Call for Accountability

Ghana has long prided itself on having one of the most structured oil revenue management systems in Africa, yet gaps in implementation remain a major challenge. The absence of direct community oversight has allowed inefficiencies, mismanagement, and sometimes outright neglect to persist.

“This is about ensuring Ghana’s oil wealth benefits its people,” says Samuel Harrison-Cudjoe, a Programmes Officer at GACC. “When public resources are managed transparently, everyone wins. We’re not just tracking figures on paper—we’re ensuring that projects exist and serve the people they were meant for. Transparency must be meaningful. A project isn’t successful if it fails to serve the entire community.”

During its pilot phase from 2022 to 2023, the project assessed 33 oil-funded developments across the country. Of those, 30 were rigorously scrutinized, revealing glaring inconsistencies between official records and the reality on the ground.

Some projects that were declared complete turned out to be unfinished, while others were not even located where they were supposed to be.

These findings highlight a crucial issue: financial disclosures alone are not enough. While Ghana’s budget statements and petroleum reports provide figures on spending, they rarely indicate whether projects have been completed successfully—or if they exist at all.

How the Initiative Works

The project operates through a structured verification system, ensuring that public funds result in completed projects that genuinely serve communities.

Each year, the Ministry of Finance publishes a list of projects financed by oil revenues. These projects are then independently monitored and assessed through site visits and data verification.

The assessment covers several key areas. It includes the verification of physical infrastructure to ensure that projects not only exist but have also been completed as planned. Additionally, it examines contractor accountability by tracking whether funds have been properly disbursed and utilized.

The assessment also evaluates quality and safety standards by reviewing key infrastructure features, such as pedestrian walkways in road projects, to ensure they meet proper guidelines.

Lastly, it considers inclusivity by ensuring that public facilities, including schools and hospitals, are accessible to all individuals, including those with disabilities.

This rigorous approach goes beyond paperwork, shifting the focus to real impact and community welfare. It ensures that oil-funded developments are not just numbers in a report but are visible, usable, and beneficial to the people they were meant to serve.

Communities at the Forefront

The strength of this initiative lies in community participation. The Local Accountability Networks play a vital role, providing on-the-ground insights that government agencies and oversight bodies may lack. Their work has exposed cases where projects were officially marked as completed but, in reality, were abandoned or substandard.

Philip Duah, Executive Director of ABAK Foundation Ghana and Focal Person for Asante Akyem LANET, underscored the vital importance of grassroots engagement.

“We are the eyes and ears on the ground,” he explains. “Too often, projects appear complete on paper, but when you visit the site, the reality is different. Our job is to ensure public funds are used properly.”

Betty D. Owusu, a Policy Analyst at the Africa Centre for Energy Policy (ACEP), believes the project’s impact extends beyond Ghana.

“When people see transparency in action, it restores trust in institutions. This is not just a Ghanaian issue—it’s a challenge across Africa,” she says.

Challenges and Reforms

Despite its successes, From Disclosure to Impact faces significant obstacles. Access to timely and reliable information remains a major challenge, with some agencies reluctant to disclose full project details. Weak financial oversight has also allowed inefficiencies to persist, making it difficult to track the movement of funds from allocation to implementation.

Mr. Godfred Oppong Amoako, Head of Finance at GACC, warned that without systemic reforms, the risk of mismanagement remains high.

To improve transparency, stakeholders are advocating for new measures, including the installation of detailed signboards at project sites. These would provide key information such as contractor names, budgets, timelines, and contact details—allowing communities to track progress and hold officials accountable.

Impact on Policy and Governance

The findings from “From Disclosure to Impact” are already shaping conversations on governance reforms. The discrepancies uncovered in the pilot phase have prompted calls for stricter oversight mechanisms, more frequent project audits, and community involvement in decision-making processes.

Government institutions and civil society organizations are increasingly recognizing the need for transparency in oil-funded projects—not just in financial reporting but in tangible, verifiable outcomes that affect citizens’ lives.

Future Outlook

As the initiative enters its second year, efforts are being intensified to institutionalize its findings. A series of district-level meetings will convene government officials, contractors, and community monitors to review reports, address challenges, and develop solutions.

The primary objective is not merely to reveal inefficiencies but to implement substantial reforms in the management of oil revenues. If successful, this initiative could become a model for transparency in Ghana’s extractive sector, establishing a benchmark for industries dependent on public funds.

By transforming disclosure into action and accountability into tangible change, From Disclosure to Impact is reshaping the management of Ghana’s oil wealth.

The project serves as a reminder that transparency is not merely about disclosing financial figures; it is about ensuring that every cedi allocated for development genuinely benefits the people, fostering sustainable growth and equitable progress across communities.

Source: Isaac Kofi Dzokpo