Ghana’s Finance Minister has raised grave concerns over the country’s escalating financial burden in the energy sector, revealing that the government will need to pay a staggering $1.1 billion to ENI in 2025 alone. This amount covers monthly invoices, replenishing Letters of Credit (LCs), and settling long-standing arrears.
According to the Minister, this financial strain is a direct consequence of years of neglect and poor decision-making in the energy sector. He criticized the previous government for failing to address the growing debts, choosing instead to postpone critical obligations. As a result, Ghana now faces the harsh reality of mounting liabilities that cannot be ignored.
Currently, the country’s monthly energy expenses stand at 2.5 billion cedis, with fuel and power generation accounting for 1.9 billion cedis. However, the Electricity Company of Ghana (ECG) only collects 1.3 billion cedis, resulting in a 1.2 billion cedi shortfall each month.
In a recent meeting with ENI officials, the Finance Minister expressed frustration over the situation, emphasizing that funds that could have been directed toward vital sectors like healthcare, education, and infrastructure will instead be used to pay off debts.
Despite the challenging circumstances, he reaffirmed the government’s commitment to stabilizing the energy sector, clearing inherited debts, and ensuring Ghana’s energy future is no longer compromised by past mismanagement.
Source: Edyspromotions.com
