The government has announced plans to introduce a Natural Resource Management Act to replace the Petroleum Revenue Management Act.
Presenting the 2027 Budget Statement and Economic Policy of the Government for the year ending 31 December 2027, Finance Minister Hon. Cassiel Ato Forson said the new law will bring revenues from oil, gold, lithium, bauxite and all other extractive resources under one clear and accountable framework, for the benefit of present and future generations.
He added that, building on the experience gained so far, revenues from the country’s natural resources will be directed only to major national infrastructure projects.