“Heritage Funds at Risk: Suame MP Warns of Mahama Govt’s ‘Plundering’ Agenda”

The Member of Parliament for Suame, Hon. John Darko, has leveled a serious accusation against the government, claiming it is executing a “calculated move to ‘plunder'” the Ghana Heritage Fund (GHF) and the Ghana Stabilisation Fund (GSF) under the pretext of the 2026 Budget.

He warned that this action poses a “grave threat” to the nation’s future economic security. Contributing to the budget debate in Parliament yesterday, Mr. Darko alleged that the government, through the Minister for Finance, Dr. Cassiel Ato Forson, is attempting to alter the investment structure of the Ghana Petroleum Funds (GPFs) to “access and spend the resources now,” which he stated violates established law and the principle of intergenerational equity.
The MP drew attention to paragraphs 861, 863, and 864 of the budget, which he claimed outline plans by the Finance Ministry to shift GPF investments from their current placement in low-risk, foreign-denominated securities into “alternative investments.”
Current Framework: Under the existing framework, the funds are invested in instruments issued by highly rated sovereigns and institutions like the World Bank to protect Ghana’s long-term savings. Alleged Violation: Mr. Darko argued that the proposed change, linked to a memorandum laid before Parliament on November 12, 2025, seeks to amend investment rules to channel the petroleum funds into domestic energy sector projects.
”This is effectively an attempt to spend the Ghana Wealth Fund now, instead of preserving it for the future as required by law,” he charged, referencing the Petroleum Revenue Management Act (PRMA). He described the move as a violation of the principle of sustainable development, warning the government is prioritizing “present consumption over the needs of future generations.”
Data Discrepancy Claims
Mr. Darko dismissed the Finance Minister’s claim that total reserves of about $1.46 billion had yielded just $1.94 million in interest since 2011, representing about one per cent annual return, calling it “misleading and inconsistent” with data from the Bank of Ghana and the Public Interest and Accountability Committee (PIAC).

Quoting the 2025 PIAC report, the MP stated that cumulative petroleum receipts distributed between August 2011 and June 2025 amounted to about $11 billion. He noted that $2.6 billion was paid into the GSF and $1.1 billion into the GHF, bringing the combined total of the two funds to approximately $3.7 billion. He described the attempt in the budget presentation to downplay these figures as “troubling.”
Inadequate Sanitation Allocation Questioned
Beyond the petroleum funds, the Suame MP criticized the budget’s allocation for environmental sanitation, calling the GH¢400 million dedicated to waste management “grossly inadequate” considering the scale of Ghana’s challenges and the public health risks involved.
He cited research linking poor waste management to sanitation-related diseases like cholera and warned that continued underinvestment could lead to serious public health emergencies. He also questioned why the sanitation levy has not been strictly ring-fenced for waste management purposes.
Mr. Darko however called on Parliament and civil society organisations to “resist any attempt” to repurpose the Ghana Heritage Fund and Stabilisation Fund for short-term projects, insisting that the petroleum savings belong to both the present and future generations of Ghanaians.