The Minister of Education, Haruna Iddrisu, has proposed that 2.5 per cent of Ghana’s petroleum royalty revenue be allocated to the Ghana Scholarship Authority to address the institution’s growing financial challenges.

The Education Minister made the proposal during the swearing-in ceremony of the Governing Council of the Ghana Scholarship Authority.

According to the Minister, the Scholarship Authority is currently burdened with a debt of about GH₵834 million, a situation he described as unsustainable and requiring a dedicated funding source.

“I am informed that the Scholarship Authority is currently in debt of about GH₵834 million. That is why I strongly pushed for earmarked funding for the Ghana Scholarship Authority,” Mr Iddrisu said.

“My argument has been that we should dedicate 2.5 per cent of petroleum royalty revenue to the development of human capital and allocate it specifically to the Scholarship Authority,” he added.

He expressed optimism that the proposed funding arrangement would help stabilise the Authority’s finances, improve scholarship disbursement, and expand access to educational opportunities for deserving students.