The government has reaffirmed its dedication to resolving debts within the energy sector, promising that significant payments will be made by late 2025 or early 2026.
President John Dramani Mahama, while speaking at the Africa CEO Summit in Abidjan, Côte d’Ivoire, voiced serious concerns regarding the escalating liabilities in the sector, which currently amount to GH¢80 billion.
He disclosed that the government is proactively collaborating with stakeholders and executing strategies to settle outstanding payments owed to Independent Power Producers (IPPs) and other service providers, to maintain energy production and avert disruptions.
‘The energy sector has been our top priority. Upon my return to office, we encountered a severely troubled energy sector with debts nearing 2.5 billion owed to Independent Power Producers, gas suppliers, and others,’ the President stated. ‘We are continuing the efforts initiated by the previous administration.
We have been working to renegotiate the debt and explore ways to manage it effectively. By the end of this year or early next year, we anticipate being able to satisfy all parties involved regarding this debt,’ he concluded.
