Speaking on the second day of the Kwahu Business Forum 2026 on Saturday, April 4, 2026, the President recalled the scale of the liability his government inherited.

“When we came into office, we had a debt overhang of about $1.7 billion owed to the independent power producers,” he said.

Mahama explained that negotiations with the IPPs led to concessions, with producers agreeing to absorb part of the losses in line with the national debt restructuring.

“Since Ghanaians were all taking haircuts from the debt restructuring, we told them they also must take haircuts… and they agreed… it amounted to about twenty percent of what was owed,” he said.

Under the deal, the government made immediate lump-sum payments to producers who signed on and set out a timetable for clearing the remainder.

“If they signed on to it, we gave them an immediate down payment, and we gave them the dates for the subsequent payment,” he added.

The President described the most important gain, however, as the government’s ability to stay current on new bills.

“The best announcement is we are keeping up with their present-day bills… any bill they submit every month, we pay them for the electricity they produce,” he stressed.

He said the consistent payments are rebuilding trust with IPPs and helping to secure a reliable power supply.

Mahama noted that these measures are expected to ease financial strain on producers and bring greater stability to Ghana’s electricity supply chain.

According to Mr. Nsiah, the move has become necessary as global crude oil prices continue to rise, placing additional pressure on fuel prices in Ghana.

His call follows a recent adjustment by the National Petroleum Authority, which increased the fuel price floor for the March 16 pricing window.

Under the new rates, petrol is expected to sell at GH¢11.57 per litre, while diesel has been pegged at GH¢14.35 per litre.

Mr. Nsiah noted that increases in fuel prices have far-reaching effects on the economy, as they influence transportation costs, food prices and the overall cost of living.

He therefore urged the government to take swift action by reviewing some of the taxes within the energy sector to help reduce the burden on Ghanaians.

The IMF has confirmed that the reforms are beginning to deliver results, marking a turning point in a sector that has long burdened public finances.

The development came as the International Monetary Fund (IMF) concluded its fifth review mission of Ghana’s three-year Extended Credit Facility (ECF) programme in Accra.

The Fund said a staff-level agreement had been reached with the government, paving the way for the release of about $385 million once approved by the IMF Executive Board.

“The authorities made notable strides in addressing long-standing challenges in the energy sector. The government has renegotiated legacy arrears and power purchasing agreements with most independent power producers (IPPs).

“Tariff adjustments are now conducted quarterly, helping better reflect costs. Payments through the Cash Waterfall Mechanism have also increased significantly,” said Ruben Atoyan, head of the IMF mission to Ghana.

The IMF credited these measures with improving financial discipline in the power sector, which had previously been a major source of fiscal pressure.

The restructured IPP contracts and increased payments under the Cash Waterfall Mechanism are expected to reduce the buildup of new arrears while stabilising energy supply.

The Fund said Ghana’s overall macroeconomic recovery was also gaining strength.

“Macroeconomic stabilisation is taking root. Growth in 2025H1 was stronger than anticipated, underpinned by strong services activity and agricultural output,” Mr Atoyan stated.

He noted that international reserves accumulation continued to exceed programme targets, with the cedi appreciating significantly in the first half of the year.

The IMF also highlighted improved fiscal performance, saying Ghana recorded a primary surplus of 1.1 per cent of GDP in the first eight months of 2025 and remained on track to meet the 1.5 per cent target by year-end.

The Fund commended the government’s commitment to adopting a 2026 budget aligned with the Fiscal Responsibility Framework.

It further confirmed progress in Ghana’s debt restructuring, noting that bilateral agreements had been concluded with five countries under the G20 Common Framework, while negotiations continued with commercial creditors.

The Fund said Ghana’s debt outlook had “improved markedly on an upgraded macroeconomic outlook and continued fiscal discipline.”

The IMF team met with Finance Minister, Dr Ato Forson; Bank of Ghana Governor, Dr Johnson Asiama, and other officials during the mission.

“The IMF team would like to express its gratitude to the Ghanaian authorities and other counterparts for their warm hospitality and continued open and constructive engagement,” Mr Atoyan said.

The staff-level agreement, once approved by the IMF Executive Board, will bring Ghana’s total disbursement under the $3.2 billion programme to about $2.8 billion.

Source: Abubakar Ibrahim

Speaking at the opening session of the 2025 Africa Oil Week in Accra, President Mahama noted that over 600 million Africans still live without access to electricity, while more than 1 billion lack clean cooking solutions.

He stressed that these challenges must be addressed collectively if Africa is to achieve meaningful development.

The annual forum has brought together over 1,200 delegates from across Africa and beyond to discuss the growth of the oil and gas upstream industry, attract investment, and explore new partnerships.

Mahama urged participants to focus on practical strategies that will improve energy access and reduce costs.

He further called for innovative financing models and stronger collaboration to ensure Africa is not left behind in the global energy transition.

“AOW:Energy is here to stay. It is more than just an event—it is a movement run with African interests first. This is a platform for Africa, by Africa, and it is a moment of national pride for Ghana to host it. Together, we will align our goals, unlock more production, and deliver prosperity for our people,” he said.

According to him, the continent has both the resources and the capacity to drive growth in the energy sector, provided its leaders act decisively.

“Africa holds nearly 10 percent of the world’s proven reserves and significant gas deposits, with a substantial portion of these resources still untapped. These resources present an opportunity to transform our continent from a primary exporter of raw commodities to a hub of value addition, boosting our petrochemical potential and industry growth,” he added.

Source: Kwame Anum

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He made the disclosure during the presentation of the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.

“We inherited a bleeding energy sector with annual financing shortfalls over $1.5 billion,” Dr. Forson stated.

He attributed the situation to unsustainable debts, poorly structured power purchase agreements, and inefficiencies that continue to exert significant pressure on the economy.

The Minister explained that the financing gap had resulted in an accumulation of arrears and payment delays across the energy value chain, undermining investor confidence and straining public finances.

He stressed the urgency of implementing reforms to restore financial viability and improve service delivery.

According to him, the government has initiated corrective measures, including the renegotiation of power purchase agreements and efforts to enhance revenue collection within the sector.

Dr. Forson assured Parliament of the administration’s commitment to restoring financial discipline and accountability in Ghana’s energy sector.

Source: Ernest Arhinful

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on

Speaking at the Government Accountability Series at the Jubilee House on Wednesday, July 16, Mr. Jinapor indicated that ongoing reforms and targeted interventions are beginning to yield visible results.

“We can confidently announce that the energy sector is showing signs of stabilisation and improvement. This progress has been driven by reforms aimed at addressing both technical and financial challenges, as well as modernising our infrastructure,” he stated.

The Minister noted that the persistent and erratic power outages experienced earlier this year have significantly reduced.

“The outages that plagued the country at the beginning of the year have seen remarkable improvement. We are now enjoying a more reliable and uninterrupted power supply — and you can attest to that,” he added.

Mr. Jinapor also addressed public concerns over scheduled maintenance at the ENI gas facility, which many feared would lead to nationwide power cuts.

“This past Sunday, during the upgrade of the ENI facility to boost gas production, some people dubbed it ‘National Dumsor Day,’” he said.

“Fortunately, through the collaborative efforts of our technical teams and stakeholders, we successfully completed the operation without cutting even one megawatt of power.”

He noted that the public’s strong interest in the matter reflects the vital role of electricity in national life.

“When I checked social media, I saw people saying they were disappointed the lights didn’t go off. Others joked that the Minister forgot to switch off the power,” he said. “But this only underscores how important electricity is to our daily lives. We are committed to building on these gains and consolidating our progress.”

Source: Kareen Tei

Following the conclusion of its mission to Ghana, the IMF noted that the country remains committed to completing its comprehensive public debt restructuring to restore sustainability. The IMF also highlighted that Ghana is finalizing bilateral agreements with its Official Creditors Committee (OCC) under the G20 Common Framework.

The IMF further stated that Ghana’s authorities are working diligently to reach an agreement with other commercial creditors on a debt treatment plan aligned with programme parameters and the principles of comparability of treatment.

In its statement, the IMF emphasized the importance of structural reforms, particularly in enhancing governance, transparency, and improving the management of State-Owned Enterprises (SOEs) in critical sectors such as gold, cocoa, and energy.

The IMF also welcomed the resumption of quarterly electricity tariff adjustments, which, along with the broader structural reforms, are expected to reduce the energy sector shortfall and prevent the accumulation of new arrears.

Additionally, the IMF noted that Ghana is committed to strengthening its public banks, as recapitalization efforts continue.

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Presenting the 2025 Budget Statement in Parliament on March 11, he outlined key measures under the government’s Energy Sector Recovery Programme.

He stated that the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCo) would implement strategies such as improved metering systems and private sector participation to enhance revenue collection.

Additionally, the government plans to increase the supply of natural gas (N-Gas) from 60 million standard cubic feet per day to 100 million, enabling the country to benefit from cheaper gas prices through a Liquid Fuel-to-Gas Swap initiative.

“ECG and NEDCo will implement a number of measures, including metering and a Private Sector Participation (PSP) strategy to improve collection efficiency. We will also implement the Liquid Fuel-to-Gas Swap by increasing N-Gas supply from 60 mmsc per day to 100 mmsc to take advantage of cheaper gas prices,” Dr. Forson stated.

He also revealed that negotiations with Independent Power Producers (IPPs) are being finalized to lower fixed capacity and operational charges, generating cost savings for the sector.

“These interventions are essential to improving efficiency and ensuring a more sustainable energy sector,” he emphasized.

The Minister assured Parliament that the government remains committed to stabilizing the energy sector and reducing its financial burden on the economy.

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Speaking to the Presidential Press Corps on Friday, 7th March, at Jubilee House following President John Dramani Mahama’s second cabinet meeting, Mr Jinapor highlighted the severity of the situation.

He stressed the need for immediate and decisive measures to prevent further deterioration and restore stability to the sector.

He explained that the country’s energy infrastructure is under immense strain and that the current situation is unsustainable if left unaddressed.

“The energy sector is bleeding, and something needs to be done to stop this bleeding,” he stated, emphasising the necessity of making tough but essential decisions.

Key Government Measures

One of the primary measures being implemented by the government is the construction of a second mooring system in Tema, known as the Cargo Berthing Mooring (CBM), Mr Jinapor revealed.

Currently, Ghana relies on a single mooring system for discharging both petrol and diesel. However, due to a significant increase in demand, this system has become inadequate. Since 2006, demand for petroleum products has surged by 186%, placing an overwhelming strain on existing infrastructure.

“At present, we have only one CBM, which has resulted in major operational inefficiencies, including high demurrage costs and an unreliable fuel supply,” Mr Jinapor explained.

Recognising the urgency of the situation, Cabinet has approved the construction of a second CBM to ease the pressure.

“This decision is crucial to ensuring Ghana’s energy supply remains reliable and efficient. Any legal or financial challenges that arise will be addressed through discussions with all relevant parties,” he assured.

In addition to the new mooring system, the government is planning to expand fuel storage facilities in the Western Region, particularly around Takoradi.

This expansion aims to provide greater flexibility in the energy supply chain, ensuring a more stable fuel supply and better meeting the growing energy demands of the country.

“The expansion of storage facilities in Takoradi will significantly improve our ability to serve the people of Ghana,” he added.

Private Sector Participation

These initiatives form part of a broader strategy by the government to strengthen the energy sector, improve supply security, and meet the increasing demand for energy as the nation continues to grow.

“Cabinet is also committed to ensuring private sector participation in the downstream distribution sector,” Mr Jinapor concluded.

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According to the NYA, it represents over 0.5 million people and serves as the mouthpiece for the Nzema ethnic group. The Nzema area in Ghana is divided into three electoral districts: Nzema East, Ellembelle, and Jomoro.

The alliance congratulated President John Dramani Mahama and the National Democratic Congress (NDC) on their electoral victory under the Fourth Republic. It also expressed gratitude to the president for promoting inclusivity and regional balance in his government.

“We wish to express our gratitude to President Mahama for his focus on inclusivity and regional balance, as demonstrated by the appointments of Emmanuel Armah Kofi Buah as Minister for Lands and Natural Resources and Emelia Arthur as Minister for Fisheries – both from the Western Region,” said George Amenlemah Blay-Morkeh, Chairman of the NYA.

However, the NYA expressed deep concerns about the government’s failure to appoint a representative from the Western Region to the Ministry of Energy or its associated agencies, such as the Ghana National Petroleum Corporation (GNPC), Ghana Gas, the Petroleum Hub Development Corporation, and the Volta River Authority (VRA).

“Despite being the heart of Ghana’s oil and gas industry, the Western Region remains underrepresented in the very sector that drives national development. This exclusion is troubling as it fails to recognise the region’s significant role in housing the oil fields,” Blay-Morkeh said.

The alliance also raised concerns about the lack of representation for the Nzema people, who have been directly impacted by oil and gas activities in their communities.

“Our communities have borne the environmental, social, and economic costs of the oil industry. We have made considerable sacrifices, yet we remain excluded from the decision-making bodies that shape the future of the energy sector,” he added.

The NYA warned that this exclusion undermines the contributions of the people of the Western Region and raises questions about the government’s commitment to equitable distribution of opportunities.

“This is the first time the Nzemas and the Western Region have been so completely alienated from leadership in the oil and gas sector since its emergence in Ghana,” he lamented.

The alliance is calling on the government to address these concerns and ensure that the Western Region, particularly the Nzema people, are properly represented in the Ministry of Energy and its associated agencies.

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Speaking during his vetting before Parliament’s Appointments Committee on January 13, 2025, Mr. Jinapor disclosed that the energy sector’s debt had surged to over $3 billion as of January 12, 2025.

“The debt stood at $2.1 billion when we left office in August 2017. As of yesterday, January 12, 2025, the debt has exceeded $3 billion,” Mr. Jinapor revealed.

A key contributor to the rising debt is the government’s financial obligations to Independent Power Producers (IPPs), which amounted to $1.2 billion as of October 2024.

He also highlighted inefficiencies, such as unaccounted-for power sales, further exacerbating the sector’s financial woes.

Mr. Jinapor stressed the need for pragmatic and sustainable solutions to resolve the debt crisis, ensuring the energy sector remains viable while protecting Ghana’s broader economic stability.

He urged robust financial management practices and comprehensive reforms to tackle the mounting liabilities, restore investor confidence, and enhance the sector’s operational efficiency.

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During a courtesy visit by the Canadian High Commissioner to Ghana, Myriam Montrat, in Accra on Friday, Mahama highlighted the sector’s vulnerability, warning of its potential to destabilize the country’s economy.

He reaffirmed his administration’s commitment to implementing reforms that would ensure efficiency, sustainability, and a reliable energy supply for all Ghanaians.

“The energy sector needs urgent intervention; otherwise, it could bring everything to a standstill,” Mahama stated.

The former President also criticized the current administration’s portrayal of economic recovery, pointing to the significant debt burden that remains unresolved.

“You have a $2.5 billion debt, your bailout is only $3 billion, leaving $2.5 billion unresolved, and yet you claim the economy is turning around,” Mahama remarked.

He warned that the unaddressed debt could undermine any progress made, suggesting that the current government’s optimistic economic outlook is misleading.

“That alone could undo everything that has been achieved, which is why they are trying to paint a more favorable picture of their economic management before they leave office,” he said.

Mahama assured Ghanaians that his government would prioritize transparency about the true state of the economy.

“We will open the books when we take office and let Ghanaians know the real situation. Once Ghanaians understand the true state of affairs, they will better appreciate the measures we need to take to restore stability,” Mahama affirmed.

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According to him, while merging certain entities could improve efficiency, the timing and approach need careful consideration to prevent further destabilization of the energy sector.

Nana Amoasi highlighted specific merger proposals by the NPP, which include combining the Public Utilities Regulatory Commission (PURC) with the Energy Commission, merging the Electricity Company of Ghana (ECG) with the Northern Electricity Distribution Company (NEDCo), and consolidating the Bui Power Authority with the Volta River Authority (VRA).

“They have been clear with their intention,” he said, but he noted that the opposition party, the National Democratic Congress (NDC), has also alluded to a “realignment of entities” in its manifesto, though without providing concrete details.

Nana Amoasi explained that, in principle, mergers can be beneficial, likening them to a company restructuring to cut costs and boost efficiency.

However, he emphasized, “For us today, we ask, is the timing right to put the VRA and Bui together? You will say they are all hydro-based assets, but remember, VRA runs both hydro and thermal.”

He further explained that while Bui is fully hydro, VRA’s hydro assets serve non-paying clients like ECG and the Volta Aluminum Company Limited (VALCO), and its thermal assets are essential to keeping the organization financially viable by directing exports to the more reliable, cash-paying market.

“If you hive off the thermal assets of VRA and put the hydro of VRA and Bui together, you’ve exposed VRA. You’ve made it more vulnerable,” he said, emphasizing the risk of isolating VRA’s more reliable revenue streams.

Nana Amoasi argued that the first step should be addressing the liquidity issues and inefficiencies plaguing the sector.

“Go and deal with the liquidity challenge. Go and deal with the cash waterfall system, the inefficiencies in ECG, in NEDCo,” he urged.

He pointed out that high transmission losses continue to hinder GRIDCo’s efficiency, which adds to the sector’s problems.

Commenting on the proposed merger between ECG and NEDCo, Amoasi compared it to “putting two lame men together and calling them a ‘faith man.’”

He explained, “NEDCo is struggling. ECG is struggling. You say you want to put two lame men together and call them what—‘faith man’? It’s impossible.”

For Nana Amoasi, combining two struggling entities could exacerbate their weaknesses rather than lead to a stronger entity.

He suggested that once inefficiencies are resolved and the sector is stable, a merger could be a “strategic approach.”

Nana Amoasi reiterated, “The timing is wrong, though it’s not a bad approach.”

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According to him, the country currently relies on approximately 150 megawatts, leading to ongoing load shedding across major cities, commonly referred to as Dumsor.

“The power sector is not as robust as we need it to be, and therefore we face these kinds of challenges. We currently have a deficit, which is not as significant as it was a couple of months ago; we now have about 150 megawatts of load to share,” he said while discussing the frequent power outages in the country on Monday, November 4, 2024, with Kojo Yankson on Joy FM’s Super Morning Show.

Mr. Boakye added that low voltages and total power outages sometimes occur due to the energy sector’s inability to manage the situation effectively.

“The reality is that the system also has a deficit that needs to be managed, and from our [ACEP] tracking, the power providers are moving it around quickly, creating the impression that we have enough, but it is actually not sufficient.”

He criticized the power suppliers for not communicating the correct information to the public regarding power consumption.

He urged the sector to keep the public informed about load-sharing situations to prevent businesses from being adversely affected.

“That is why it is important to communicate these matters properly, share the loads, and provide optimal power to those who have it so they can be productive,” he said.

Regarding the ongoing issue of Dumsor in the country, Ben also attributed it to financial deficits.

He stated, “It is not the job of the Ministry of Finance to pay the electricity bills; it is the responsibility of those managing the sector to ensure that revenues can be collected so the budget does not bear the burden of paying for people’s electricity bills.”

The country’s major industries that depend on the energy sector continue to struggle for stable power. Over the years, many businesses, including domestic consumers, have lost valuable items and services due to power outages.

ACEP is one of the independent institutions advocating for transparency and accuracy in the energy sector.

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He contended that, these deals have created uncertainty and instability, damaging the sector’s prospects for growth.

Mr Mahama noted that despite the NPP inheriting substantial oil revenues when they took office, their management of the sector has driven it to the brink of collapse.

He emphasised that the government’s actions have discouraged potential investors, further weakening the energy industry’s potential.

Speaking at a meeting with stakeholders in the petroleum sector in Accra, Mr Mahama outlined his concerns about the current state of the sector and its long-term impact on Ghana’s economy.

He criticised the government’s handling of energy resources, calling for more transparency and accountability.

Mahama assured the gathering that, if elected in 2024, his administration would revitalize the energy sector by implementing reforms aimed at restoring investor confidence.

The former President pledged to create a more transparent and stable environment to attract investment and ensure the sector’s sustainable growth.

“Crude oil production has dropped by over 30% and regulatory failures such as the ENI unitisation dispute have damaged our international reputation as an oil and gas nation.

“Corruption scandals like the sale of contaminated fuel and the lease of TOR to Torentco in opaque circumstances have further eroded investor confidence in the sector.

“It is sad to know that most of the major oil companies are abandoning Ghana and are relocating to our neighbour Côte d’Ivoire,” he stated.

Among the guests was former Energy Minister, John Abdulai Jinapor who is also the Member of Parliament for Yapei-Kusagwu.

He said among other things that, the erstwhile National Democratic Congress (NDC) government achieved significant feat in the energy sector.

During his presentation, Mr Jinapor outlined several key successes under the NDC government.

He also highlighted the economic conditions at the time the NDC left office, noting the economic stability achieved under their administration.

Below are infographics:

Speaking on the maiden Sectorial Debate Friday, he emphasized the party’s accomplishments in power exportation and infrastructure development.

According to Mr. Jinapor under the erstwhile Mahama administration, Ghana was exporting power to neighbouring countries, including Côte d’Ivoire, Togo, Benin, Mali, and Burkina Faso.

He noted that, these exports were generating substantial revenue for the country, contributing to the national economy by providing a steady stream of foreign currency.

However, Mr. Jinapor said the reverse is the case under the Akufo-Addo administration.

Watch the video below:

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It has also approved an additional $10 million grant from the Energy Sector Management Assistance Programme of the World Bank. Both funding sources are expected to help the country improve the financial viability of electricity distribution and also increase access to clean cooking solutions.

This comes after the country successfully secured a memorandum of understanding (MoU) from the Official Creditor Committee of the Paris Club, a body of external bilateral creditors on debt treatment that allows the country to essentially postpone its debt repayments until 2026.

The Ghana Energy Sector Recovery Programme for Results (PforR) will provide financing directly to energy sector utilities to implement capital expenditure programmes and complement regulatory and policy reforms of the energy sector supported under the World Bank’s Development Policy Financing series and the ongoing IMF Extended Credit Facility Programme for Ghana.

In a statement, the Ministry of Finance said the clean cooking component of the programme would increase access to Liquefied Petroleum Gas (LPG)) by households, schools and businesses.

“The PforR will provide direct incentives to subsidise the cost of stoves and accessories,” the statement added.

Other benefits

The Energy Sector Recovery Programme (ESRP), is expected to provide a wide range of benefits to consumers, including market development, affordability, energy access and equity, health and environmental protection against air pollution and associated health risks.

The statement quoted the World Bank Country Director for Ghana, Liberia, and Sierra Leone, Robert Taliercio, as saying, “through this important results-based financing, the World Bank is committed to supporting the recovery of Ghana’s energy sector and its financial sustainability.

The wide-ranging policy was approved by the cabinet earlier this year and covers power generation, transmission and distribution, petroleum, renewable energy, nuclear power, energy efficiency and other areas.

Some highlights of the new policy include:

• A goal of achieving universal access to electricity by 2024 through the expansion of the national grid and mini-grids. Currently, 86% of households have access.
• Increasing the share of renewable energy to help meet growing electricity demand in a sustainable manner. This includes utility-scale solar and wind projects as well as off-grid solutions.
• Integrating nuclear power into the energy mix by 2030 to provide low-cost baseload electricity. The government has already taken steps to set up a nuclear program.
• Expanding petroleum exploration to increase oil and gas production. New policy directions call for more seismic surveys, promotion of enhanced recovery methods and infrastructure development.
• Promoting energy efficiency and conservation to reduce waste. New building codes, appliance standards and public awareness campaigns are planned.
• Mainstreaming gender and disabilities into the energy sector through capacity building and data collection efforts.

The policy emphasizes the need to balance energy security and affordability for consumers and businesses with Ghana’s climate commitments and sustainable development goals.

According to Energy Minister Dr. Matthew Opoku Prempeh, implementation of the policy will require new legislation across the energy sector. He expressed hope that the policy will help make Ghana’s energy sector “a sustainable climate-resilient low-carbon energy economy.”

The government says the policy will be updated periodically through stakeholder consultations to keep it relevant. It replaces the previous national energy policy enacted in 2010.

The Chief Executive Officer of the Petroleum Commission, Egbert Faibille, has disclosed that this is part of government’s local content agenda in the petroleum sector.

Mr Faibille made this known yesterday during an event dubbed ‘Around the World Series’ at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States of America.

Mr Faibille is part of a government delegation led by the Minister for Energy, Dr Matthew Opoku Prempeh. Others include senior officials of the Ministry as well as heads and senior managers of various energy sector agencies.

Tracing the background to this development, the CEO stated that in the Commission’s engagements with International Oil Companies (ICOs) on local content engagements, it had emerged that there were deficiencies in the skill sets and qualifications of the mid-level technicians that the Commission sought to get engaged by the IOCs.

He stated that the Commission, under the leadership of the Ministry of Energy, was seeking to reverse this by rolling out a number of training programmes for high-end international certification for Ghanaian youth and that in the instant case, the 150 candidates had been selected from a total of over 2,000 young Ghanaians who had been examined.

Speaking on this issue, the Public Relations Officer for the Ministry of Energy, Kwasi Obeng-Fosu, explained that, these candidates will on the completion of their training be issued City and Guilds certification and come out as process technicians, instrumentation technicians and mechanical technicians.

“When we started our journey, we were looking at the high-end engineering and geoscience training. But over the period, we forgot, possibly, that we would have FPSOs in our waters, for which you would still need mid-level specialist technicians to perform key roles, just as a hospital needs both doctors and laboratory or dispensing technicians.”

The result, he noted, was that “when the FPSOs came in a certain deficiency came to light, and the idea now is that if a person is coming into the country as an expatriate technician for say two-three years, then by the time the person leaves, there should be in his or her place a Ghanaian technician ready to take over who has understudied the expatriate and has been trained up to their standard both in terms of certification and practical experience.”

Ultimately, he noted, this would drive down the cost of running the FPSO.

Touching on service provision and in-country spend as part of the local content conversation in the sector, Mr Faibille stated that this hovered around 67-70% and lauded international oil companies like Tullow for their commitment to this.

However, he called for diversification of the supply base, noting that it is the same companies that supply the same services for the same oil companies. This he called a market failure.

“Tullow and others must be more welcoming of other suppliers so that the chain of monopoly is broken, else the local content story will remain stagnant,” he remarked.
.

It also says it has paid in excess of $1.0 billion to Independent Power Producers, adding, this is on top of the GH₵2.7 billion paid by Electricity Company of Ghana Limited.

In a statement from the Finance Ministry captioned: ‘Dumsor will not return: Government of Ghana saves Energy Sector $5 billion as it continues to deliver on the Energy Sector Recovery Programme’, the government said it has continued to improve the Energy Sector Recovery Programme and will make further announcements soon.

It also welcomed the collaboration and commitment shown by the IPPs and called for their support in bringing the negotiations to a swift close, adding, the energy sector in Ghana is faced with a number of challenges.

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“Many of these issues were inherited by this government from the previous administration. While attempting to provide emergency power to address a spate of persistent load-shedding which crippled businesses and adversely affected GDP growth, the previous government signed contracts with IPPs in an uncoordinated and non-competitive manner.

“Consequently, today, Ghana pays over $500 million a year in excess capacity payments that is payment for power that it simply does not use or need. Despite the challenges, this government has prioritised making payments to the IPPs to reduce the debts”, it emphasised.

Furthermore, the statement said the government had committed to building an energy sector based on long-term energy security, sustainable investment, and partnerships to bring affordable accessible energy to the people of Ghana, in line with the vision of a Ghana Beyond Aid.

To achieve this vision, it pointed out that it has taken pragmatic and decisive action to manage the energy sector, stressing “in collaboration with the World Bank, government established the ESRP, identifying the policies and actions needed for financial recovery in the energy sector over a five-year horizon (2019-2023).”

It concluded, saying “the Government Negotiating Team, established under the Energy Sector Recovery Task Force, which is helmed by the Senior Minister, is working bilaterally with IPPs and Gas Suppliers under the ESRP Consultation Process, to secure more favourable and sustainable agreements for both parties.

“As any nation’s energy sector matures it is standard practice to undergo such reform and restructuring processes.”

Central Regional Chairman of the National Democratic Congress (NDC), Bernard Allotey Jacobs, has asked both political and non-political actors to stop playing politics with the energy sector.

According to him, there is stabilisation and harmony in the energy sector which to him, proves the minister is performing creditably.

“I’m advising Ghanaians and other civil societies to stop playing politics with the energy sector. I think the Minister is doing its best and must be commended because he is making sure the energy sector continues to be stable. If that is what we will keep doing, we will never move forward in this country” he warned.

Mr Allotey Jacobs’ comment comes in the wake of pressure being mounted on the government to withdraw the reviewed AMERI deal to ensure Ghana makes maximum returns from it.

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The opposition National Democratic Congress (NDC) in Parliament, as well as civil society organizations, have kicked against the new agreement, insisting it will not offer Ghana value for money.

But Allotey Jacobs, speaking on Adom FM’s Morning Show Dwaso Nsem Tuesday, July 31, 2018, said Ghanaians should show gratitude to former President Mahama for bringing AMERI into Ghana to help in the country’s power generation.

He said the AMERI deal which was criticized by the then opposition NPP, is what the  NPP government is fighting to review and has, therefore, asked critics stop making what he describes as ‘ugly noises’ over the deal.

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“Ghanaians should show gratitude and exonerate Mahama for bringing AMERI into Ghana. We will always do politics with power generation but people don’t feel it when they are in opposition,” he said.

“This same AMERI which was criticized by the NPP is the same thing they are now fighting for which to me shows how important it was. So those critiquing the deal should just shut up because we need the power to work” he added.