Ghana has seen a significant boost in its revenue since the start of its crude oil export in 2011.
The nation earned 8.7 billion dollars in revenue from oil liftings, corporate taxes, and other sources of income.
Oil lifting from April 2011 to December 2022, reached 7 billion dollars while 1.4 billion dollars were used by the Ghana National Petroleum Corporation (GNPC) as equity financing.
This was captured in Ghana’s Petroleum Oil Account Report.
The Ghana Heritage Fund had 828 million dollars at the end of December 2022 with a closing book value of 918 million dollars with a realized investment income of 5.5 million dollars.
Meanwhile, the stabilization Fund had an open book of 190 million dollars and a realized investment income of Six Hundred and 7 Thousand dollars.
The report provides a glimpse into the success of Ghana’s oil export and the impact they had on the country’s economy.
