Development economist and spokesperson for the New Patriotic Party (NPP) Committee on Finance and Economy, Dr. Frank Bannor, has called on the Minister for Finance to clarify discrepancies regarding the $500 million Oil Palm Development Finance Facility in the mid-year budget review.
Presenting an economic analysis of the mid-year performance statement in Accra, the GIMPA lecturer highlighted that while the initial budget allocated 6.9 billion cedi to the oil palm initiative and 828 million cedi to agricultural enclave roads, the review reclassified these projects under dollar-denominated facilities totaling over $1 billion without explaining how the figures reconcile with original cedi allocations.
Dr. Bannor emphasized that the Ministry of Finance must publish consolidated accounting tables showing actual cedi disbursements and confirm whether these multi-million-dollar funds replace or supplement the original statutory allocations.
He stressed that transparent reporting on major agricultural financing instruments remains vital for maintaining public confidence, ensuring fiscal accountability, and tracking capital delivery to target sectors across the country.
