Energy Minister slashes ECG budget by GH?250m amid missing containers scandal

The Minister of Energy and Green Transition, John Jinapor, has announced a 50% reduction in the Electricity Company of Ghana’s (ECG) budget, slashing it from GH?500 million to GH?250 million.

This decision comes in the wake of financial mismanagement and the recent controversy surrounding missing ECG containers at the port.

Explaining the rationale behind the budget cut, Jinapor emphasized the urgent need to settle outstanding debts owed to power producers to prevent the collapse of the energy sector.

“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. As a minister, I am determined to do my bid no matter how difficult it is,” he stated.

According to Jinapor, ECG had originally been allocated GH?935 million in 2023 for planned procurement but overspent by GH?7.3 billion, largely due to excessive cable purchases. This overspending has strained ECG’s finances, leading to revenue shortages and the inability to clear containers at the port.

Addressing Parliament, the minister assured lawmakers that measures were being implemented to curb financial mismanagement and keep ECG operational.

The budget cut, he added, was part of broader reforms to restore fiscal discipline in the sector.

The post Energy Minister slashes ECG budget by GH?250m amid missing containers scandal first appeared on 3News.

Read Full Story