Ghana’s 2026 Budget Targets Oil and Palm Sectors for Economic Growth

Can Ghana match Côte d'Ivoire’s palm success? A bold budget bets on oil and agriculture to transform the economy. The stakes are high.

, and Administrator

2025 November 23 . 7:09 AM

1 min read

It is an agriculture land many plants are plotted into the ground and in front of of the field... — It is an agriculture land many plants are plotted into the ground and in front of of the field there is a machine, it is spelling the water on the crops and behind the machine there are huge trees and behind the trees there are other types of crops.

Ghana’s 2026 Budget Targets Oil and Palm Sectors for Economic Growth

John Matthew Kofi Setor Dumelo, MP for Ayawaso West Wuogon, has praised the 2026 Budget presented under President John Dramani Mahama. He believes the financial plan will boost job creation and strengthen Ghana’s economy. His remarks also highlighted major investments planned for the oil and palm sectors.

Speaking on the budget, Dumelo emphasised the need for higher production in crude oil and oil palm. He pointed to neighbouring Côte d'Ivoire, which exports around 650,000 metric tonnes of oil palm annually, generating significant income. Ghana, he argued, could achieve similar gains with the right policies.

The proposed US$500 million injection into Ghana’s oil industry aims to drive employment and revenue growth. If implemented, the plan could reshape key sectors while reinforcing the country’s economic stability. The success of these measures will depend on sustained policy support and execution.