Policy Lead on Petroleum and Conventional Energy at the Africa Center for Energy Policy (ACEP), Kodzo Yaotse has called for an immediate dismissal of the Management of ECG over an alleged mismanagement of its revenue mobilization efforts.
Speaking at a Press Conference in Accra, Mr. Kodzo stated that, revenue losses of ECG, for instance, increased from GH¢295 million to GH¢9.7 billion between 2017 and 2022, adding that, “The growing fiscal burden imposed on the economy by ECG’s poor performance has become a ticking time bomb that can undermine the progress made after the domestic and international debt restructuring to keep Ghana solvent.
According to him, With the level of debt accumulation and the intervention required of the state,’’ it is just a matter of time before Ghana is plunged into another debt crisis. With IPP debt mounting and gas suppliers and transporters demanding payments, the pressure on the government to sacrifice social investment is high.”
He called for an end to what he termed as ‘’a wasteful use of state resources’’, which he said cannot be allowed to persist. “The political lethargy to enable ECG to deliver value to the people of Ghana continues to hurt Ghana’s budget and, by extension, development efforts. The Energy Sector Recovery Programme (ESRP) estimates that realised power sector shortfalls between 2019 and 2023 were about US$8.25 billion.