GhArticles.com Every News in Detail
The Minister of Education, Haruna Iddrisu, has proposed the allocation of 2.5 per cent of petroleum royalty revenue to the Ghana Scholarship Authority to help resolve its growing financial challenges.
The proposal was announced during the swearing-in ceremony of the Governing Council of the Ghana Scholarship Authority, where the Minister outlined concerns about the Authority’s current financial position and its impact on scholarship delivery.
According to Mr Iddrisu, the Authority is burdened with a debt of approximately GH₵834 million, a situation he said has significantly constrained its ability to effectively support students who rely on government scholarships.
He explained that dedicating a portion of petroleum royalties to the Authority would help reduce the debt burden and ensure the long-term sustainability of the scholarship scheme.
The Education Minister further noted that earmarking petroleum revenue for the Authority would provide a steady and predictable source of funding, allowing it to continue supporting brilliant but needy students across the country without frequent financial disruptions.
“I am informed that the Scholarship Authority is currently in debt of about GH₵834 million. That is why I strongly pushed for earmarked funding for the Ghana Scholarship Authority,” Mr Iddrisu said.
“My argument has been that we should dedicate 2.5 per cent of petroleum royalty revenue to the development of human capital and allocate it specifically to the Scholarship Authority,” he added.
