Over GHS 310 Million From Mineral Royalties Received And Disbursed To Beneficiaries
The Minister for Lands and Natural Resources says through the Mineral Development Fund (MDF), over GHS 310 Million has so far been received and disbursed accordingly to beneficiaries of the fund from 2017 to date.
Hon. Kwaku Asomah-Cheremeh made the disclosure at a Meet the Press in Accra today. Addressing the media, the Minister said government since 2017 has put in place strategies which include the implementation of the MDF Act, 2016 (Act 912) and other existing regulations to enable Stools or Traditional Authorities receive their portion of royalties from gold and timber production in a prompt and regular manner.
He said among these is the setting up of a Board for the MDF and appointment of a Fund Administrator who will ensure that revenue due to Traditional Rulers are fully and promptly disbursed.
“Ladies and Gentlemen, these measures have put a stop to the situation where Nananom had to travel down to Accra to chase their royalties that comes with cost and discomfort. That period is over. Additionally, such revenues that go to the Metropolitan, Municipal, and District Assemblies (MMDAs) for community development are also disbursed in a similar manner”.
The Minister added that other revenue sources include Ground Rent, Farm Rent, and Mining Concession Rent. He said from 2017 to date, an amount of over GHS 240 Million has been mobilized and disbursed for the development of various projects. The projects he listed include the Legacy Projects at the following institutions;
University of Mines and Technology (UMaT): Construction of a 5-Storey Administration Block, 2-Storey Classroom Block, a Sports Facility, construction of a Main Gate House, and a 4-Storey Faculty Block. Others are; construction of a 2-Storey Cafeteria Block, a 2-Storey 8 Flats of 3 Bedroom, and the construction of a 4-Storey 52 rooms Guest House in Accra. He said there are other projects currently ongoing at the University of Ghana.
“The portion of royalties from Timber received and disbursed by the Office of the Administrator of Stool Lands from 2017 to date amounts to GHS 27 Million”.
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