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Ted News Ghana Blog of Saturday, 29 March 2025
Source: TEDDY VAVA GAWUGA
The Minister of Energy and Green Transition, John Jinapor, has announced a 50% reduction in the Electricity Company of Ghana’s (ECG) budget allocation—cutting it from GH₵500 million to GH₵250 million—as part of efforts to address financial challenges in the energy sector.
Speaking in Parliament, Jinapor explained that the move is aimed at offsetting debts owed to power producers, which have accumulated to over GH₵80 billion.
“We have reduced their budget from GH₵500 million to GH₵250 million because we must pay the power producers. Today, the bill is over GH₵80 billion in the energy sector. If we don’t do something, this sector will collapse,” Jinapor stated.
The budget cut comes amid controversy surrounding missing ECG containers at Tema Port, which were allegedly left uncleared due to outstanding fees. Jinapor revealed that ECG had overspent its 2023 budget by GH₵7.3 billion, largely due to excessive cable procurement, leading to significant revenue shortfalls.
He assured Parliament that the government is implementing strict financial measures to curb mismanagement and ensure the sustainability of ECG.
