The Minister of Finance, Ken Ofori-Atta says Ghana is producing excess electricity following government’s successful resolution of the inconsistent power supply.
According to him, although the inconsistent power supply, ‘dumsor’ is history, the country is still faced with serious challenges in the energy sector.
Presenting the mid-year budget review to Parliament on Monday, Mr Ofori-Atta said the challenges, which are mainly the take-or-pay contracts signed by the erstwhile Mahama administration “pose grave financial risks to the whole country.”
“I am happy to reaffirm that “dumsor” is history, and we are determined to ensure that it remains that way. However, we are facing serious challenges in the energy sector that pose grave financial risks to the whole economy.
“At the heart of these challenges are the obnoxious take-or-pay contracts signed by the NDC, which obligate us to pay for capacity we do not need. We must urgently address these challenges to protect the hard-earned economic gains we have made in the past two-and-a-half years and continue with our economic growth and jobs agenda to improve the lives of Ghanaians,” he said.