Accra, April 9, – Corporate Income Tax (CIT) emerged as the leading contributor to Ghana’s petroleum revenue in 2025, accounting for 45 per cent of total receipts and overtaking all other revenue streams for the first time.
According to data presented at the launch of the 2025 Annual Report on the Management and Use of Petroleum Revenue, total inflows into the Petroleum Holding Fund (PHF) stood at US$770.3 million for the year.
CIT generated US$346.9 million, narrowly surpassing Carried and Participating Interest (CAPI), which contributed US$339.3 million, representing 44 per cent of total receipts. Royalties contributed 10.1 per cent, while Surface Rentals and Interest on the PHF together accounted for less than one per cent.
The report highlighted a significant downturn in overall petroleum revenue, with total receipts falling by 43.27 per cent compared to the US$1.36 billion recorded in 2024.
Chairperson of the Public Interest Accountability Committee (PIAC), Mr Richard Ellimah, described the decline as substantial, noting that it reflected shifting dynamics in the sector.
He explained that the drop in CAPI earnings was largely influenced by delayed proceeds from a lifting in the SGN field by the Ghana Group, valued at about US$60 million.
According to him, although the lifting occurred in October 2025, payment was only received in February 2026 due to geopolitical sanctions affecting the off-taker.
CIT performance in 2025 also declined compared to the previous year’s peak. The US$346.9 million recorded represents a 31 per cent drop from the US$502.9 million achieved in 2024, which remains the highest since the inception of petroleum revenue reporting.
PIAC data further shows that between 2011 and 2025, Ghana’s total petroleum revenue has reached US$11.979 billion. Within that period, 2022 recorded the highest inflows, while 2016 registered the lowest.
On distribution, the report indicated that the Ghana National Petroleum Corporation (GNPC) received US$107.89 million for both Equity Financing Cost (Level A) and Net Carried and Participating Interest (Level B).
The Annual Budget Funding Amount absorbed US$433.29 million during the period under review.
An additional US$229.224 million was allocated to the Ghana Petroleum Funds (GPFs), which comprise the Ghana Stabilisation Fund and the Ghana Heritage Fund.
Of this, US$160.47 million—representing 70 per cent—went into the Stabilisation Fund, while US$68.77 million, or 30 per cent, was channelled into the Heritage Fund.
PIAC noted that these allocations are intended to support macroeconomic stability and safeguard long-term petroleum wealth for future generations.
GHBUSS
09 April 2026
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