Gov’t Settles $500 Million Gas Invoices to ENI and Vitol
President John Dramani Mahama has announced that the government has fully cleared all outstanding gas invoices owed to ENI and Vitol, amounting to roughly $500 million.
Speaking in Parliament during the 2026 State of the Nation Address on Friday, February 27, President Mahama said the payment ensures Ghana is fully up to date with its gas obligations to the Sankofa partners. He noted that the government pays for all gas consumed and has allocated adequate provisions in the 2026 Budget to guarantee timely payments for all future Liquid Natural Gas deliveries.
The announcement follows a series of broader economic milestones, including Ghana surpassing the $100 billion mark for the first time and successfully settling a $500 million World Bank guarantee, underscoring the country’s credibility and reliability as an international partner.
President Mahama also highlighted the administration’s success in stabilising the national currency, with the cedi appreciating by 40.7% against the US dollar, 30.9% against the British pound, and 24% against the euro.
“We did not just arrest currency instability; we strengthened the cedi to put up a good fight against other currencies,” he stated, framing the gains as part of a broader economic recovery and currency stabilisation strategy.
