Government has settled N-Gas GH₵553.5 million legacy debt, says Owuraku Aidoo

The Government, through the Ministry of Energy and the Energy Sector Levies Act (ESLA) PLC, has settled the total amount of GHC553,452,668 in three tranches to the Nigerian Gas Company Limited (N-Gas).

Deputy Minister of Energy, William Owuraku Aidoo, said the Volta River Authority (VRA), since 2017, had improved on its balance sheet and settled the legacy debt.

Answering questions on the floor of Parliament, he indicated, “I would like to point out that, subsequently, VRA has been able to pay its obligations to N-Gas as and when it falls due.”

The Member of Parliament (MP) for Nsawam-Adoagyiri, Frank Annoh-Dompreh asked the Minister of Energy how the Government, through the Ministry, settled the debt owned by the Nigeria Gas Company through the Energy Sector Levies Act (ESLA).

The Deputy Minister said this had absorbed the nation from experiencing ‘dumsor’ [power outages] for the past five years, noting that “the power generating machines in Ghana are now being fueled by natural gas.”

“VRA is able to pay for its obligation to N-Gas for the supply of natural gas from Nigeria. I will say that it has gone a long way in ameliorating the power situation in Ghana thereby preventing dumsor,” he stressed.

“VRA under the able leadership of Antwi Darkwa has improved remarkably on their balance sheet and as a result they are able to pay for gas supply to Ghana as and when it falls due. VRA is doing a very good job in polishing its balance sheet thereby being able to pay for its bills.”

Philip Asiawo

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