The New Patriotic Party (NPP) government has hinted of plans to review the Petroleum Management Act to allow for the use of the Heritage Fund to finance its ambitious Free Senior High School (SHS) policy.
The Senior minister, Minister Yaw Osafo Maafo, at a forum in Accra yesterday said the Heritage Fund which receives nine percent of the country’s annual petroleum revenue will be used to sustain the program.
He noted that doing so will guarantee the development of the country particularly the youth.
“We have to make an amendment to say that X percent of the heritage fund, or the petroleum fund will be used to support second cycle education. If we think that industry require a certain stimulus that will enable jobs to be created and you are creating a job to build Ghana. You can look at it and put in a certain amount. We are [also] looking at agriculture.”
“Whatever is important to support the future development of this country. Particularly when you talk about the youth. The youth is the future, heritage is the youth, we would make certain relevant amendments to make sure that the economy benefits from the petroleum act,” Osafo Maafo said.
President Akufo Addo over the weekend announced that government will fully implement the free Senior High School (SHS) policy from the 2017/2018 academic year which starts this September.
The policy has been his party’s long-time campaign promise to Ghanaians to increase access to education in the country.
But following the announcement, some analysts are questioning the government on where it will source funding for the ambitious program is reported to cost the country GH¢3.6 billion every year.
Policy think-tank, IMANI Ghana recently stated that the policy is likely to face some setbacks due to the country’s current economic condition.