Accra: President John Dramani Mahama has revealed that Ghana has expended over $8 billion in the last nine years to manage financial deficits in the energy sector, raising significant concerns about the impact on the nation's economy. Speaking at a dialogue with Organised Labour at the Presidency on Tuesday, March 17, 2026, President Mahama underscored the extensive repercussions of the ongoing challenges within the energy sector.
According to Ghana Web, President Mahama pointed out that inefficiencies, particularly in revenue collection during billing and metering processes, continue to hinder the sector's performance and drain national resources. He highlighted that in 2025 alone, the government disbursed approximately $1.57 billion to address legacy debts in the energy sector, illustrating the magnitude of the financial strain.
President Mahama expressed that rectifying issues in the energy sector is crucial for stabilizing the broader economy, which in turn would create the fiscal capacity needed to support workers and vulnerable populations. The government is reportedly implementing extensive reforms aimed at restoring discipline, eliminating waste, and enhancing efficiency, especially at the last-mile distribution level.
He further stressed that the reform measures are essential not only for the energy sector but also for ensuring broader economic stability and sustainable growth. President Mahama called for prudent financial management and sector-specific reforms to fortify Ghana's economic foundation and improve citizens' livelihoods, urging all stakeholders to back efforts to modernize the sector.