Gov’t settles GHS 553m legacy debt to Nigerian Gas Company Ltd
Government, through the Ministry of Energy and the Energy Sector Levies Act (ESLA) PLC, has settled a legacy debt amounting to GHS 553m to the Nigerian Gas Company Limited (N-Gas).
This is according to the Deputy Minister of Energy, William Owuraku Aidoo, who noted the Volta River Authority (VRA), since 2017, had improved on its balance sheet hence its ability to settle 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.”
Further stating that, 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.”
