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ACEP Warns of Energy Sector Crisis, Urges Mahama to Act
ACEP Warns of Energy Sector Crisis, Urges Mahama to Act
- ACEP) has issued a stark warning about the state of Ghana's energy sector
- Benjamin Boakye highlighted several critical issues plaguing the sector
- Boakye emphasized the urgent need for a "surgical examination" of the energy sector
The Africa Centre for Energy Policy (ACEP) has issued a stark warning about the state of Ghana’s energy sector, labeling it as “systematically decimated” by mismanagement and inefficiencies.
In an open letter to President-elect John Mahama, ACEP’s Executive Director, Benjamin Boakye, highlighted several critical issues plaguing the sector:
- Excessive Waste: The sector is losing over GH¢50 billion annually, a figure that surpasses the nation’s oil revenue.
- Bloated Structure: The proliferation of agencies and companies has led to overstaffing and redundancy.
- ECG’s Deterioration: The Electricity Company of Ghana (ECG) has become a major financial burden on the state due to mismanagement and procurement abuses.
- Downstream Petroleum Sector Inefficiencies: The sector imposes inflated margins on consumers, contributing to the “black tax” of over GH¢6 billion.
- Threat to Upstream Oil and Gas: The mismanagement of the energy sector risks undermining investor confidence in the upstream oil and gas industry.
Boakye emphasized the urgent need for a “surgical examination” of the energy sector and called on President-elect Mahama to take decisive action to restore order, efficiency, and sustainability.
