The Minister of Finance, Dr Cassiel Ato Forson, has claimed that constructing a proposed new gas plant will save Ghana $1bn annually.
He indicated that Ghana’s energy sector alone requires at least $1.1 billion annually to purchase light crude and heavy fuel oil to power the country’s thermal generation plants.
Dr Forson disclosed this at the inauguration of a technical committee tasked with advising the government on the proposed construction of a new gas plant yesterday, Monday, May 12, 2025.
He noted that there was an urgent need for a more cost-effective and sustainable energy strategy that will help Ghana address its power challenges.
“After our exercise today, it came to us as a shock that Ghana requires at least $1.1 billion annually to buy light crude oils and heavy fuel to power our thermal plants. Yet the consumer is not paying for this kind of fuel, and that means that the Ministry of Finance will have to look for money to fund the amount. The shortfall is quite a lot; with today’s exchange rate, you are talking about GH₵15 billion,” Dr Forson stated.
He added that the proposed gas plant would significantly reduce the financial burden on the state by cutting down on dependence on expensive imported fuels and improving the long-term sustainability of the energy sector.
By: Rainbowradioonline.com/Ghana
