The Ghana Infrastructure Investment Fund’s (GIIF) $30 million investment in the construction of Kotoka International Airport’s Terminal III has yielded a total return of $5.5 million between 2017 and 2019, according to the Public Interest and Accountability Committee’s (PIAC) 2025 Semi-Annual Report.
PIAC highlighted the investment as a prime example of how petroleum revenues, when strategically allocated, can deliver significant economic value and public benefit.
The Kotoka Terminal III Project, funded in part through the Annual Budget Funding Amount (ABFA) in 2016, has been described as one of Ghana’s most successful infrastructure investments.
However, the Committee expressed concern that recent amendments to the Petroleum Revenue Management Act (PRMA) have removed the GIIF from the list of institutions eligible to receive ABFA funding.
PIAC warned that this policy shift could deprive GIIF of essential capital needed for future infrastructure investments capable of yielding similar returns.
“PIAC observes that the latest amendment to the PRMA has taken the Ghana Infrastructure Investment Fund (GIIF) off ABFA funding, depriving it of funds,” the report noted.
“It is worth noting that the investment of US$30 million of which GIIF invested in 2016 in the Kotoka Airport Terminal III Project has made a return of US$5.5 million between 2017 and 2019 alone”
The Committee stressed that the Kotoka example demonstrates the value of maintaining GIIF’s access to petroleum funds for high-impact national projects.
PIAC further recommended that government review the amendment to restore funding to the GIIF and ensure sustainable financing for critical infrastructure.
The 2025 Semi-Annual Report, which covers the period from January to June 2025, also assessed production trends, petroleum revenue allocations, and compliance with the PRMA.
It underscored the importance of transparency, investment sustainability, and policy consistency in managing Ghana’s petroleum resources.
Source: Starrfm.com.gh
