Connect with us

General News

Government’s New IPP Deal to Save Ghana $300 Million — Energy Minister Jinapor

Published

on

  1. The Minister for Energy and Green Transition, John Abdulai Jinapor, has revealed that government has reached a fresh agreement with Independent Power Producers (IPPs) that is expected to save Ghana about US$300 million.

 

Speaking during an engagement with officials of the Volta River Authority (VRA) as part of his working visit, the minister stressed the importance of keeping politics out of the energy sector, describing it as a national asset that demands unity, professionalism, and shared responsibility.

 

Mr. Jinapor acknowledged that while the previous administration began renegotiations with IPPs, the current government has gone further to improve the terms to secure greater value for the country.

 

“This sector is experiencing significant progress,” he said. “We’ve renegotiated with the IPPs, and based on the numbers I’ve seen, we are saving about US$300 million from those agreements.”

He commended the efforts of the previous government for initiating the process, emphasizing that energy challenges must be tackled as a collective national issue, not a partisan one.

“The previous administration did their bit. We’ve come to improve on it — and that’s how it should be,” he said. “It’s not always about politics. Let’s put the nation first. Whether NDC or NPP, let’s work together for Ghana. Before the next four years, let’s put VRA first and turn this sector around.”

The minister also expressed worry about the growing financial burden in the energy sector, revealing that the GH¢28 billion allocation in this year’s budget is being used mainly to clear energy sector debts instead of funding new investments.

“This year’s budget gives us GH¢28 billion — not for new projects, but to pay shortfalls,” he cautioned. “If this trend continues, next year it could reach GH¢35 billion. Eventually, energy shortfalls alone could consume the entire national budget.”

 

Mr. Jinapor further noted that the huge payments made to IPPs over the years could have been used to expand the VRA’s generation capacity, enabling Ghana to produce and sell power more cheaply.

“If you do the math, we pay around US$70 million to IPPs every month — about US$840 million a year,” he explained. “Imagine if we had invested that money directly into building new VRA thermal plants. We could be generating more power locally and at a lower cost.”

He also raised concerns about tariff inconsistencies that tend to favour private producers over state-owned utilities.

“When it’s IPPs, we strictly enforce tariff collections. But when it comes to VRA, we’re more lenient,” he pointed out. “Why can’t we apply the same standards to our own institutions?”

Mr. Jinapor reaffirmed the government’s commitment to strengthening the energy sector through transparency, collaboration, and long-term planning, ensuring that Ghana’s power industry becomes both sustainable and affordable.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

Ato Forson to Present Mahama Government’s First Full-Year Budget on November 13

Published

on

Finance Minister Dr. Cassiel Ato Forson is expected to present the 2026 Budget Statement and Economic Policy to Parliament on Wednesday, November 13, 2025, sources within the Finance Ministry have confirmed.

 

The proposed date, which awaits formal approval from Parliament, will mark the Mahama administration’s first full-year budget since returning to power in 2025. It is anticipated to be a major fiscal event, setting the tone for the government’s economic direction after nearly a year of navigating global and domestic challenges.

 

Experts say the 2025 Budget—delivered shortly after the new administration took office—largely operated within the fiscal framework of the previous government. The upcoming 2026 Budget, however, is expected to reflect the Mahama government’s own economic vision and priorities.

 

As required by the Public Financial Management Act, the Finance Minister must present the national budget to Parliament no later than November 15 each year.

 

Broad Consultations

 

The Finance Ministry has concluded extensive stakeholder engagements with industry leaders, civil society groups, and development partners. These discussions helped shape key policy measures and expenditure priorities for the 2026 fiscal plan.

 

Focus on Jobs and Growth

 

Dr. Forson has hinted that the budget will focus on job creation, productivity, and innovation, with targeted investments in sectors that can drive youth employment.

The document is also expected to introduce a comprehensive tax reform aimed at expanding the revenue base while easing the tax burden on households and businesses.

 

Preparing for a Post-IMF Economy

 

With Ghana expected to exit the IMF programme by May 2026, the budget will be closely scrutinised for its post-programme economic strategy. Analysts will be watching how the government balances fiscal discipline with growth and stability.

 

Deficit Management and Infrastructure

 

Managing the fiscal deficit, debt servicing, and funding for social and infrastructure projects will also be a key highlight.

As anticipation grows, investors, businesses, and development partners await what could be the defining economic roadmap of the Mahama administration’s second year in office.

Continue Reading

General News

From Fat Lies To Empty Lies: The new case of Fourth Estate against Razak Kojo Opoku

Published

on

First and foremost, can Fourth Estate produce a letter indicating that I am a paid Consultant to KGL for the purpose of integrity and honesty?

 

I still insist that, NLA’s letter was written on 7th October 2025, but the leadership of KGL received the letter on 13th October 2025 (attached to the Article is the available evidence).

Again, I still insist that, Mr. Alex Dadey never asked NLA to defer its request to 2026 (attached to the Article is the available evidence).

We perfectly understand that when an argument is lost, personal attack becomes the norm, hence the current stance by Fourth Estate.

Fourth Estate and Sulemana Briamah should accept that they were completely misled in their fishing expedition work against the NLA-KGL deal instead of trying to save face by resorting to fabrication of facts.

 

Since Fourth Estate is NOT a Court or State Investigative body, no one is obliged under any Oath to offer vital information or trade information or economic data to/with them.

I will advise the media outlet to get the right information from their sources at NLA, or possibly contact their alleged ally, Albert, who is the President of the Ghana Journalists Association for help.

What even makes Fourth Estate and Sulemana Briamah think that, the letters in their possession are genuine and authentic?

 

Fourth Estate lied about NLA giving away a GHS 3 billion prime business to KGL. When the facts were made available, they refused to comment on it.

 

They also lied about NLA paying GHS 37 million to the State as Profit in 2018. When they were proven wrong with data, they stopped pushing that assertion.

 

Since Fourth Estate and Media Foundation for West Africa started this diabolic agenda against KGL, I have consistently proven them wrong with Fact and Data, and I shall continue to do so until they come to understand the lottery industry.

There will be no insults or lies, just intellectual debate based on Facts and Data.

 

I just want Fourth Estate and Sulemana Briamah to understand that, they can never win this argument because KGL has proven to be a responsible corporate entity.

In this enterprise, we reject jandam journalism and remain resolute in the defense of indigenous businesses including KGL.

 

Issued by: Razak Kojo Opoku

Former PR Manager of NLA

Continue Reading

Crime and Investigation

EOCO Rescues 26 Victims in QNET-Linked Human Trafficking Operation

Published

on

EOCO Rescues 26 Victims in QNET-Linked Human Trafficking Operation

 

The Economic and Organised Crime Office (EOCO) has rescued twenty-six (26) victims and arrested nine (9) suspects in a major anti-human trafficking operation linked to the QNET Company.

 

The operation, codenamed “Operation Quest,” was carried out on Friday, October 17, 2025, around 10:30 a.m. by EOCO’s Anti-Human Trafficking Unit. It followed intelligence suggesting that both Ghanaians and foreign nationals had been trafficked under the pretense of being offered employment opportunities with QNET, a company known for trading in wellness and lifestyle products.

 

According to EOCO, the suspects include two Ivorians and seven Ghanaians, while the rescued victims comprise ten Ivorians and sixteen Ghanaians. All nine suspects are currently in EOCO’s custody to assist with ongoing investigations.

 

The Office cautioned the public to be wary of individuals and groups who claim to be agents of QNET and promise lucrative job offers either in Ghana or abroad. EOCO emphasized that such schemes are often used to exploit unsuspecting people.

 

EOCO further recalled that in July 2025, it signed a joint Memorandum of Understanding (MoU) with QNET to intensify efforts to clamp down on criminal networks using the company’s name for trafficking and fraudulent activities.

 

The statement, signed by Faustina Lartey, Head of Public Affairs at EOCO, reaffirmed the agency’s commitment to combating human trafficking and urged the public to report any suspicious recruitment offers.

Continue Reading

Trending

Copyright © 2025 KPDOnline. Powered by AfricaBusinessFile