Mahama has restored confidence in Ghana’s energy sector – Dr Edem Segbefia tells NDC grassroots

Aspiring National Vice Chairman of the National Democratic Congress (NDC), Dr Edem Segbefia, has lauded President John Dramani Mahama for what he described as a remarkable turnaround in Ghana's energy sector, urging party grassroots supporters to remain steadfast in their support for the government.

Addressing NDC members during an interactive engagement in parts of the Volta Region, Dr Segbefia said the Mahama administration inherited an energy sector burdened by mounting debt, operational inefficiencies and widespread uncertainty. However, he noted that the government had restored stability, credibility and investor confidence through decisive reforms and prudent management.

"Comrades and fellow faithful, I bring you greetings and an update on the work His Excellency President John Dramani Mahama is doing to fix the energy sector, a sector that touches every home, every business and every community," he told party supporters.

According to him, the government has made significant progress in addressing the sector's longstanding financial challenges, settling more than GH¢80 billion in energy sector debt arrears since assuming office. He disclosed that approximately US$1.47 billion was paid in 2025 alone to clear inherited obligations and restore confidence among key industry stakeholders.

Dr Segbefia said the administration had settled US$393 million in legacy debts owed to Independent Power Producers (IPPs) and successfully reinstated the US$500 million World Bank Partial Risk Guarantee that supports gas payments to ENI.

"Today, Ghana is current on its gas obligations. The government is paying for every unit of gas consumed while ensuring timely Liquefied Natural Gas payments going forward," he stated.

He further highlighted the government's renegotiation of several IPP contracts, describing the exercise as critical to securing better value for money for Ghanaian taxpayers. He also pointed to ongoing engagements with Tullow Oil and its partners in the Jubilee Field aimed at ensuring a reliable supply of gas for power generation.

Touching on developments at the Tema Oil Refinery (TOR), Dr Segbefia announced that the refinery is expected to begin processing Ghanaian crude oil in June 2026 following extensive maintenance works and the phased restoration of operations.

"The revival of TOR, together with the strengthening of the cedi and favourable global crude oil prices, has played a significant role in reducing fuel prices across the country," he said.

He indicated that petrol prices had declined from approximately GH¢14.80 per litre in early 2025 to about GH¢10.99 per litre by February 2026, providing relief for consumers and businesses.

Dr Segbefia also commended efforts to reposition the Bulk Oil Storage and Transportation Company (BOST), describing the move as a strategic intervention aimed at strengthening Ghana's fuel reserves and enhancing national energy security.

On reforms at the Electricity Company of Ghana (ECG), he explained that the government had introduced a single holding account jointly supervised by the Ministry of Energy and the Public Utilities Regulatory Commission (PURC) to reduce revenue leakages and improve financial accountability.

He added that the enforcement of the cash waterfall mechanism, coupled with measures to reduce commercial and technical losses, was contributing to the financial sustainability of the power sector.

The NDC stalwart further highlighted interventions introduced to cushion citizens against rising fuel costs, including the temporary suspension of selected petroleum taxes and levies, as well as the deployment of additional Metro Mass Transit buses on major routes at reduced fares.

According to him, improved contract management and ongoing reforms within the energy sector have already generated estimated savings of US$250 million.

Dr Segbefia also credited emergency measures implemented during maintenance works on the West African Gas Pipeline with helping to avert potential power shortages and ensuring uninterrupted electricity supply to homes and businesses.

Summarising the administration's achievements, he argued that the government had successfully steered the energy sector from crisis to stability through debt settlement, contract renegotiation, institutional reforms and strategic investments.

"The Mahama administration has moved the sector from crisis to stability by settling arrears, restoring guarantees, renegotiating contracts, reviving TOR, reducing leakages at ECG and providing targeted relief on fuel prices," he said.

He urged party members to remain united and actively communicate the government's achievements to the electorate, stressing that sustained public support would strengthen the NDC's prospects of retaining power and advancing its development agenda.

"If the government is working to improve the lives of the people, it creates a tremendous opportunity for us to remain in power and continue delivering results. The grassroots are always the first to feel the impact when the NDC is in government," he noted.

Acknowledging the expectations of party supporters, Dr Segbefia appealed for patience and unity, assuring them that the government's reforms would yield even greater benefits in the years ahead.

"Before we took office, these sectors were on their knees. Today, the government has changed the narrative. With patience, commitment and unity, all of us will benefit from the power we hold. Let us continue supporting the government, defending its record and remaining focused. Our faith and sacrifice will not be in vain," he concluded.

He ended his address with the NDC's traditional rallying call: "Forward ever, backward never. NDC lives, Ghana wins."

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