The Minister of Energy and Green Transition, John Jinapor, has announced a reduction in the Electricity Company of Ghana’s (ECG) budgetary allocation from GH₵500 million to GH₵250 million following reports of missing containers at the port.
The decision aims to help settle debts owed to power producers.
Jinapor disclosed that ECG was initially allocated GH₵935 million in 2023 for planned procurement. However, the company exceeded its budget by a staggering GH₵7.3 billion, primarily due to excessive cable purchases.
This financial strain has resulted in revenue shortages, leading to missing containers at the port due to unpaid clearance fees.
Speaking on the floor of Parliament, Jinapor assured Parliament that steps were being taken to prevent further financial mismanagement and ensure ECG remains operational.
“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.