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| Mid-Year Budget: Accra-Tema motorway road to be tolled – CastinoStudiosgh |
Finance Minister Ken Ofori-Atta has revealed the government’s innovative strategy to raise funds to facilitate the rehabilitation and extension of the Tema Motorway, a critical road network in the country.
According to him, the government in line with the Public Private Partnership Act, 2020 (Act 1039) will establish a concession agreement between the Ghana Infrastructure Investment Fund (GIIF) and the Roads and Highway Ministry that will sponsor the 27.7-kilometer project.
Delivering the Mid-Year Budget Review, Mr. Ofori-Atta said the project upon completion will be tolled.
Ken Ofori Atta reveals road tolls to be introduced on ALL new roads as government struggles to generate funds internally. #MidYearBudgetReview
— Charles Ayitey (@CharlesAyitey_) July 25, 2022
“The completed road will be tolled to recover the whole life cost of the completed infrastructure as well as pay lenders and provide a return for equity investors”.
“The Government of Ghana shall provide funding through GIIF to take equity in the Special Purpose Vehicle to be created by GIIF for the project,” he mentioned.
Despite a cancelation of road tolls, the Finance Minister further revealed that government will toll all new roads constructed under such concession agreements.
“All new roads of this nature will be tolled,” Ken Ofori-Atta stressed.
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| Ken Ofori-Atta at the Mid-Year Budget Review 2022 |
Speaking on the contract drawn so far, the Minister said a drafted concession agreement between GIIF and the Ministry of Roads and Transport is currently under review by all parties including the Office of the Attorney-General and the Ministry of Finance.
“When completed, the concession agreement is expected to be approved by the PPP Committee, Cabinet, and Parliament,” he continued.
On November 17, 2021, the government revealed motorists who use tolled roads across the country, will no longer be required to pay tolls.
Roads And Highways Minister Kwasi Amoako-Attah has directed that toll collection at the various toll booths across the country must be halted effective Thursday, November 18, 2021.
“Government has abolished all tolls on public roads and bridges. This takes effect immediately after the Budget is approved,” Ken Ofori-Atta said while reading the 2022 budget to Parliament.
However, the reintroduction of tolls has made Ghanaians raise a lot of questions as they believe is a trick by the government to get the entire toll collection back.
God bless Speaker Bagbin for advising govt against cessation of road tolls.
— MPK 𓃵 (@MPKwarteng_) July 25, 2022
Today, Ken Ofori Atta backtracks to say, he is going to bring back road tolls after replacing same with e-levy. #MidYearBudgetReview
We have the men who see beyond the present — that is NDC for you! pic.twitter.com/CvN0K3MCD6
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