Deputy Minister for Roads and Highways nominee, Alhassan Suhuyini, has proposed channelling pension funds into road infrastructure development as an alternative financing solution to address Ghana’s persistent road budget constraints.

He argues that sustainable funding is crucial to maintaining and expanding the country’s deteriorating road network, which is vital for economic growth.

During his vetting on Wednesday, February 26, Mr Suhuyini highlighted the urgent need for innovative funding mechanisms, citing the vast investment potential of pension funds.

"I think that maybe we have to also begin to look at the investment portfolios of some of our pension institutions. For example, when I review reports from SSNIT and see investments in luxury hotels and other assets, I wonder if moving forward, some of these funds cannot be used to support critical infrastructure needs in the country."

Mr Suhuyini suggested that pension funds could help finance major road projects, such as constructing a three-lane dual carriageway from Accra to Tamale, or at least Kumasi, with strategically placed toll booths to ensure returns on investment.

"Pension funds, in my view, should be invested in long-term instruments because people retire after many years. A well-structured tolling system can generate revenue over time, making road projects a viable investment for pension funds," he explained.

While emphasising his commitment to following the minister’s agenda, he noted that, within legal frameworks, the ministry would explore partnerships to improve Ghana’s road infrastructure.