The first annual report of the National Council for Higher Education in the Republic of Ghana covers the period July 1, 1974 to June 30, 1975. The historical background of the council is reviewed along with its membership, committees, and institutions for which it is responsible. Its role in financing the universities is discussed in terms of government grants to the institutions. Data are provided on annual development estimates, annual recurrent estimates, annual estimates for equipment, and unit cost and university financing. It is concluded that if the council is to be effective as an intermediary between the government and the universities, it must be independent of both and must maintain its advisory role. This report also includes the study of the council by R. C. Griffiths, the director of United Kingdom Inter-University Council for Higher Education Overseas. That study deals with: the council's role; cost analysis; planning student enrollment; capital planning; norms; capacity of academic buildings; control of individual buildings; government-universities-council relationships; council membership; role of chairman; delegation of powers; and non-university functions and committee structure of the council. (LBH)