The government has reaffirmed its commitment to clearing debts in the energy sector, which currently stands at GH¢80 billion.
President John Dramani Mahama made this known at the Africa CEO Summit in Abidjan, Côte d’Ivoire.
According to President Mahama, substantial payments will be made by the end of 2025 or early 2026 to Independent Power Producers (IPPs) and other service providers.
“The energy sector has been number one in terms of priority,” President Mahama said. “On my second coming, we met a messed-up energy sector with debts of almost 2.5 billion owed to Independent Power Producers, to gas suppliers, and everybody.”
The President revealed that his administration has been working to renegotiate the debt and implement strategies to clear the arrears.
“And so what the previous [government] started, we are continuing. We have been trying to renegotiate the debt and see how we can ring fence it. We have some strategies for dealing with it,” he added.
President Mahama expressed confidence that the debt issue will be resolved soon, saying, “By the end of the year, early next year, we should be able to make everybody happy in terms of dealing with that debt.”