Energy Minister-designate Mr. John Abdulai Jinapor has revealed that the energy sector has grown to $3 billion.
In his apperance before the Appointments Committee on Monday, January 13, 2025, he claimed that the energy sector’s debt had risen to more than $3 billion as of January 12, 2025.
Responding to questions, the nominee stated that the debt situation has exacerbated existing challenges, particularly the government’s financial obligations to Independent Power Producers (IPPs), which totalled $1.2 billion as of October 2024.
Mr. Jinapor revealed that the Mahama administration left an energy sector debt of $2.1 billion as of August 31, 2017.
He proposed solutions to the debt crisis, ensuring the energy sector’s long-term viability while protecting Ghana’s economic stability.
“When we’re leaving office, the debt stock consolidated was close to 2 billion. Fortunately, I have a document summary of energy sector debts and lenders through August 31, 2017, the ESLA PLC got a full audit of the entire energy sector debts.
“I refer to the 17 of the document. The total energy sector liability at the time was GH₵9.4 billion, they themselves use an exchange rate of 4.4, if you use this exchange rate of 4.4, the debt had then moved to $2.1 billion. So let me put on record that as at this time when the debt was validated, the debt was $ 2.1 billion,” Mr Jinapor said.
“As we speak today, the reconciled figure from official sources is $3 billion,” he added.
By: Rainbowradioonline.com/Ghana
