President John Dramani Mahama has reiterated his administration’s strong commitment to tackling Ghana’s escalating energy sector debt, promising substantial payments to Independent Power Producers (IPPs) and other service providers by the end of 2025 or early 2026.

Speaking at the Africa CEO Summit in Abidjan, President Mahama voiced serious concern over the sector’s “staggering GH¢80 billion debt,” which he attributed to previous administrations.

He assured attendees that his government is actively engaging with stakeholders and implementing strategic measures to clear these arrears, aiming to ensure sustained energy production and prevent service disruptions across the country.

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“We inherited a severely indebted energy sector, with nearly GH¢2.5 billion owed to IPPs, gas suppliers, and other stakeholders,” President Mahama stated during his address.

“We’ve been working to renegotiate the debt and implement effective management strategies. By year’s end or early next year, we aim to make significant progress in addressing this debt.”

The President’s pledge underscores the NDC government’s declared priority to stabilize Ghana’s crucial energy sector, foster economic growth, and ensure the consistent provision of reliable energy services to all Ghanaians.

The announcement is expected to bring a measure of relief to the various entities within the power supply chain that have been grappling with outstanding payments.