President John Dramani Mahama has reaffirmed his government’s commitment to resolving the energy sector’s crippling debt, pledging significant payments by the end of 2025 or early 2026.
Speaking at the Africa CEO Summit in Abidjan, Côte d’Ivoire, President Mahama expressed serious concern over the sector’s financial challenges, revealing that total liabilities have now reached GH¢80 billion.
He stressed that addressing the debt owed to Independent Power Producers (IPPs), gas suppliers, and other service providers is a top priority for his administration.
“When we returned to office, we inherited a severely distressed energy sector with nearly GH¢2.5 billion owed to IPPs and gas suppliers, We’ve made the sector a top priority, and we’re actively engaging stakeholders to renegotiate and restructure the debt,” Mahama said.
The President added that the government is implementing a range of measures, including ring-fencing arrangements and strategic financial plans to ensure the energy supply remains stable and uninterrupted.
“We are confident that by the end of this year, or early next year, we will have made significant progress toward clearing the arrears and restoring full confidence in the sector,” he assured.