The Minister of Energy and Green Transition, John Jinapor, has announced a drastic cut in the Electricity Company of Ghana’s (ECG) budget, slashing its allocation from GH₵500 million to GH₵250 million. This decision follows reports of missing containers at the port due to ECG’s financial mismanagement.
Jinapor explained that ECG had initially been allocated GH₵935 million in 2023 for planned procurement but shockingly overspent by GH₵7.3 billion, mainly on excessive cable purchases. The financial strain from these expenditures has resulted in revenue shortages, leading to the company’s inability to clear containers from the port.
Speaking on the floor of Parliament, Jinapor assured lawmakers that immediate steps were being taken to prevent further financial recklessness and to sustain ECG’s operations.
“We have reduced their budget from GH₵500 million to GH₵250 million because we must pay the power producers. Today, the bill in the energy sector is over GH₵80 billion. If we don’t act now, this sector will collapse. As a minister, I am determined to do my part no matter how difficult it is,” he declared.
The decision to slash ECG’s budget is part of broader efforts to stabilize the energy sector and settle debts owed to power producers. With mounting concerns over ECG’s financial health, stakeholders are calling for greater transparency and accountability in the management of public funds.