Energy Ministry Cuts ECG's Budget to GH₵250 Million Amid Missing Containers Scandal
Accra, Ghana - 28 March, 2025 - The Electricity Company of Ghana (ECG) has been hit with a significant budget cut, from GH₵500 million to GH₵250 million, as announced by the Minister of Energy and Green Transition, John Jinapor.
This drastic measure aims to help settle the company's debts with power producers, which have accumulated to a staggering GH₵80 billion.
The budget reduction comes on the heels of reports revealing that ECG exceeded its initial allocation of GH₵935 million in 2023 by a whopping GH₵7.3 billion, largely due to excessive cable purchases. This financial mismanagement has resulted in revenue shortages, leading to missing containers at the port due to unpaid clearance fees.
Jinapor assured Parliament that steps are being taken to prevent further financial mismanagement and ensure ECG remains operational. The minister emphasized the urgency of the situation, stating that if left unaddressed, the energy sector's financial woes could lead to collapse.
“We have reduced their budget from GHc500 million to GHc250 million. Because we must pay the power producers. Today, the bill is over GHc80 billion in the energy sector. If we don’t do something, this sector will collapse. As a minister, I am determined to do my bid no matter how difficult it is,” he stated on the floor of Parliament on March 28, 2025.
Source: Lead News Online
