Africa-Press – Ghana. Corporate Income Tax (CIT) contributed 45 per cent to the total petroleum receipts in 2025, marking the first time the tax surpassed all other revenue streams.
Out of a total receipt of US$770.3 million paid into the Petroleum Holding Fund (PHF) in 2025, CIT generated 346.9 million while Carried Participating Interest (CAPI) generated 339.3 million, representing 44 per cent with royalties accounting for 10.1 percent of total revenue.
Revenues from Surface Rentals and Interest on the PHF constituted less than one per cent of total revenue.
These findings where highlighted at the launch of the 2025 Annual Report on the Management and Use of Petroleum Revenue.
Speaking to the findings, the Chairperson of the Public Interest Accountability Committee (PIAC), Mr Richard Ellimah, noted that the 2025 revenue was a significant decline compared to the US$1.36 billion recorded in 2024.
“Overall, petroleum receipts decreased by 43.27 percent relative to the previous year,” he said.
He explained that contrary to previous years where CAPI had been a top earner for the country, its decline was a result of a delay for the payment of one lifting made from SGN field by the Ghana group, in October 2025, valued at around US$60 million.
“According to GNPC, the referenced lifting was executed in October 2025, but the proceeds were received in February 2026 instead of November 2025. The delay was due to geopolitical sanctions involving the off taker,” the report highlighted.
It must be noted that the CIT in 2025 falls short of the 2024 figure of US $502.9 million, the highest since inception, representing a 31 per cent decline.
According to the report, from 2011 to date, total petroleum revenue has amounted to US$11.979 billion.
The year 2022 recorded the highest realised petroleum revenues into the PHF, with 2016 recording the lowest revenues.
In terms of disbursement, PIAC, in its report, indicated that the Ghana National Petroleum Corporation (GNPC) received US$107.89 million for both Level A (Equity Financing Cost) and Level B (Net Carried and Participating Interest) while US$433.29 million was disbursed as the Annual Budget Funding Amount.
The report also noted that US$229.224 million was disbursed into the Ghana Petroleum Funds (GPFs), which consisted of the Ghana Stabilisation Fund and the Ghana Heritage Fund.
“The Ghana Stabilisation Fund received an amount of US$160.47 million, being 70 percent of the distribution to the GPFs. The Ghana Heritage Fund received an amount of US$68.77 million, representing 30 percent of the distribution to the GPFs,” the report highlighted.
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