Minister Proposes 2.5% Oil Royalty for Scholarships—Iddrisu Seeks Lifeline for Debt-Ridden Authority
To help the Ghana Scholarship Authority deal with its growing financial problems, Education Minister Haruna Iddrisu has suggested that 2.5% of Ghana’s petroleum royalty revenue be given to it. He said at the swearing-in ceremony for the Authority’s Governing Council that the organization has an unsustainable debt of about GH₵834 million, which means it needs a dedicated source of funding. Mr. Iddrisu said that setting aside some of the money from oil royalties for human capital development and sending it to the Scholarship Authority would help stabilize its finances, make it easier to give out scholarships, and give more deserving students access to educational opportunities.
