{"id":15077,"date":"2026-01-12T10:01:24","date_gmt":"2026-01-12T10:01:24","guid":{"rendered":"https:\/\/www.fishfmonline.com\/?p=15077"},"modified":"2026-01-12T10:01:24","modified_gmt":"2026-01-12T10:01:24","slug":"mahama-govt-pays-1-4bn-to-stabilise-ghanas-energy-sector","status":"publish","type":"post","link":"https:\/\/www.fishfmonline.com\/?p=15077","title":{"rendered":"Mahama gov\u2019t pays $1.4bn to stabilise Ghana\u2019s energy sector"},"content":{"rendered":"<p data-start=\"76\" data-end=\"271\">The Ministry of Finance says the government has decisively resolved Ghana\u2019s crippling energy sector debt, describing the move as a major step in restoring financial stability and international confidence.<\/p>\n<p data-start=\"273\" data-end=\"470\">In a statement released on Monday, January 12, the Ministry stated that, as of December 31, 2025, the John Mahama administration had repaid a total of\u00a0<strong data-start=\"412\" data-end=\"431\">US$1.47 billion<\/strong>\u00a0to rescue and reset the energy sector.<\/p>\n<p data-start=\"472\" data-end=\"871\">According to the statement, when President John Dramani Mahama assumed office in January 2025, the sector was on the brink of collapse due to years of non-payment for gas supplied to the power sector from the Offshore Cape Three Points (OCTP) field.<\/p>\n<p data-start=\"472\" data-end=\"871\">This situation had led to the complete depletion of the US$500 million World Bank Partial Risk Guarantee (PRG) under the previous administration.<\/p>\n<p data-start=\"873\" data-end=\"1107\">The PRG, established in 2015, was a key safeguard that enabled nearly\u00a0<strong data-start=\"943\" data-end=\"959\">US$8 billion<\/strong>\u00a0in private sector investment through the Sankofa Gas Project by guaranteeing payments to partners ENI and Vitol in the event of payment shortfalls.<\/p>\n<p data-start=\"1109\" data-end=\"1332\">The Ministry said the government has now fully repaid\u00a0<strong data-start=\"1159\" data-end=\"1180\">US$597.15 million<\/strong>, including interest, drawn on the World Bank guarantee, restoring the facility in full and reaffirming Ghana\u2019s credibility with international partners.<\/p>\n<p data-start=\"1334\" data-end=\"1570\">Between January and December 2025, the government also settled all outstanding gas invoices owed to ENI and Vitol, amounting to approximately\u00a0<strong data-start=\"1472\" data-end=\"1490\">US$480 million<\/strong>, ensuring Ghana is fully up to date on its obligations to the Sankofa partners.<\/p>\n<p data-start=\"1572\" data-end=\"1817\">In addition, the Ministry disclosed that the government paid about\u00a0<strong data-start=\"1635\" data-end=\"1653\">US$393 million<\/strong>\u00a0in legacy debts to Independent Power Producers (IPPs) in 2025 alone, following the successful renegotiation of all IPP agreements to secure better value for money.<\/p>\n<p data-start=\"1819\" data-end=\"1850\">Payments made to IPPs included:<\/p>\n<ul data-start=\"1851\" data-end=\"2203\">\n<li data-start=\"1851\" data-end=\"1892\">\n<p data-start=\"1853\" data-end=\"1892\">Karpowership Ghana \u2013\u00a0<strong data-start=\"1874\" data-end=\"1892\">US$120 million<\/strong><\/p>\n<\/li>\n<li data-start=\"1893\" data-end=\"1936\">\n<p data-start=\"1895\" data-end=\"1936\">Cenpower Generation \u2013\u00a0<strong data-start=\"1917\" data-end=\"1936\">US$59.4 million<\/strong><\/p>\n<\/li>\n<li data-start=\"1937\" data-end=\"1971\">\n<p data-start=\"1939\" data-end=\"1971\">Sunon Asogli \u2013\u00a0<strong data-start=\"1954\" data-end=\"1971\">US$54 million<\/strong><\/p>\n<\/li>\n<li data-start=\"1972\" data-end=\"2005\">\n<p data-start=\"1974\" data-end=\"2005\">Early Power \u2013\u00a0<strong data-start=\"1988\" data-end=\"2005\">US$42 million<\/strong><\/p>\n<\/li>\n<li data-start=\"2006\" data-end=\"2053\">\n<p data-start=\"2008\" data-end=\"2053\">Twin City Energy (Amandi) \u2013\u00a0<strong data-start=\"2036\" data-end=\"2053\">US$38 million<\/strong><\/p>\n<\/li>\n<li data-start=\"2054\" data-end=\"2087\">\n<p data-start=\"2056\" data-end=\"2087\">AKSA Energy \u2013\u00a0<strong data-start=\"2070\" data-end=\"2087\">US$30 million<\/strong><\/p>\n<\/li>\n<li data-start=\"2088\" data-end=\"2122\">\n<p data-start=\"2090\" data-end=\"2122\">Cenit Energy \u2013\u00a0<strong data-start=\"2105\" data-end=\"2122\">US$30 million<\/strong><\/p>\n<\/li>\n<li data-start=\"2123\" data-end=\"2159\">\n<p data-start=\"2125\" data-end=\"2159\">BXC Company \u2013\u00a0<strong data-start=\"2139\" data-end=\"2159\">US$10.56 million<\/strong><\/p>\n<\/li>\n<li data-start=\"2160\" data-end=\"2203\">\n<p data-start=\"2162\" data-end=\"2203\">Meinergy Technology \u2013\u00a0<strong data-start=\"2184\" data-end=\"2203\">US$8.82 million<\/strong><\/p>\n<\/li>\n<\/ul>\n<p data-start=\"2205\" data-end=\"2451\">The Ministry stated that the government has also engaged upstream partners, including Tullow Oil and Jubilee Field partners, to agree on a roadmap that ensures full payment for gas supplied, supports reliable electricity generation, and boosts industrial growth.<\/p>\n<p data-start=\"2453\" data-end=\"2598\">It added that increased gas production has already been achieved through these engagements, aimed at reducing reliance on expensive liquid fuels.<\/p>\n<p data-start=\"2453\" data-end=\"2598\">The Finance Ministry assured the public and industry stakeholders that adequate budgetary provisions have been made to sustain timely payments going forward, stressing that \u201cthe era of uncontrolled energy sector debt accumulation is over.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Finance says the government has decisively resolved Ghana\u2019s crippling energy sector debt, describing the move as a major step in restoring financial stability and international confidence. In a statement released on Monday, January 12, the Ministry stated that, as of December 31, 2025, the John Mahama administration had repaid a total of\u00a0US$1.47 [&hellip;]<\/p>\n","protected":false},"author":123457,"featured_media":15078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[3537,125,41],"tags":[3089,61,4749,4750],"class_list":["post-15077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-fish-tv","category-general-news","tag-energy-sector-debt","tag-john-mahama","tag-ministry-of-finance","tag-octp"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15077"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15077\/revisions"}],"predecessor-version":[{"id":15079,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15077\/revisions\/15079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/15078"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}