Energy Minister-Designate John Abdulai Jinapor revealed that Ghana’s energy sector debt has surpassed $3 billion as of January 12, 2025.
During his vetting by Parliament’s Appointments Committee on January 13, 2025, Jinapor warned that the rising debt posed a critical issue requiring immediate attention.
“the growing debt exacerbates existing challenges, particularly the government’s $1.2 billion financial obligation to Independent Power Producers (IPPs) as of October 2024.
Further, Mr. Jinapor also pointed out that the Mahama administration left behind a debt of $2.1 billion in the energy sector by August 31, 2017, stressing the need for better financial management to address the mounting liabilities.
“When we left office on August 31, 2017, the debt was $2.1 billion. As of yesterday, January 12, 2025, the outstanding debt has exceeded $3 billion.”
Additionally, he called for effective solutions to resolve the debt crisis and safeguard both the energy sector’s sustainability and Ghana’s economic stability.
