Ghana’s Deputy Minister for Finance, Charles Adu-Boahen says Akufo-Addo’s administration mantra of developing ‘Ghana Beyond Aid’ is contingent on the availability of fuel and power, hence the government is working to ensure that there is availability of fuel and power for the growth of the country’s economy.
He noted that energy is a key enabler of economic growth, adding that no country that has developed has done so without reliable and affordable energy.
“The attainment of the ‘Ghana Beyond Aid’ will be based on the collective efforts of both state and non-state actors.
“The contribution of the utility agencies will be critical in this push to improve the lives of Ghanaians. And this will depend on their readiness to supply energy at reasonable prices through the reduction of losses and improvement in service delivery cannot be overemphasised, “he said.
In his view, the growth of every economy is dependent on energy, saying “This is the reason why the Ghanaian economy recorded the slowest growth during the period of ‘dumsor’, with manufacturing growth being negative at the height of dumsor.”
Ghana experienced power crisis between 2012 and 2016 and this resulted in the collapse of many businesses with hundreds of people losing their jobs.
The power situation eased in 2017, when the current administration took over.In a speech delivered on his behalf by Dr. Joseph Asenso, Head of Oil and Gas at the Ministry of Finance, at the ongoing National Energy Symposium in Accra, capital of Ghana, Charles Adu-Boahen said: “We have successfully ‘banished’ dumsor and I hope it is for good.
“The experience of 2015/2016 when electricity was moving away off the national grid to solar and generating sets, in order to avoid paying for higher electricity tariffs is an indication of how customers will find alternative ways to survive when energy becomes too expensive.
For this reason, Charles Adu-Boahen said government is doing all within its power to ensure that energy costs are not beyond what Ghanaians can afford.
“We have taken steps to reduce the price of indigenous gas, a key input for electricity generation.
“We have also commenced the process of renegotiating IPP and LNG contracts, all in a bid to reduce energy costs,” he said.