Seidu Dapilah defends SIGA report, says NEDCo cut losses by 54% from GH¢650.75m to GH¢300.46m in 2025

Board Chairman of the Northern Electricity Distribution Company (NEDCo), Cletus Seidu Dapilah, has defended the latest State Interests and Governance Authority (SIGA) report, saying it reflects growing accountability and improved management of state-owned enterprises.

Speaking on TV3’s New Day, Mr Dapilah, who is also the Member of Parliament for Jirapa said the days when managers of state-owned enterprises could oversee losses without being held accountable should be over.

“I am happy about this report because gone are the days when people used to manage state-owned enterprises, whether they incur losses or profit; nobody cared about it,” he said.

According to him, Chief Executive Officers, board chairpersons and board members of state institutions must recognise that they have a responsibility to the Ghanaian people and must work to deliver on their mandates.

He commended SIGA, particularly under the leadership of Professor John B. White, for enforcing compliance requirements among state-owned institutions.

“SIGA has done so well, fared well under the leadership of Professor White. In fact, he’s been so critical about state-owned agencies in terms of compliance,” Mr Dapilah said.

He explained that state-owned enterprises were now required to properly organise and audit their accounts, sign performance contracts and hold annual general meetings as part of measures to strengthen governance and accountability.

“There are indicators that every state agency must comply, and I’m happy under Professor White, no state agency actually takes this for granted,” he added.

Mr Dapilah cited NEDCo’s financial performance as an example of what he described as significant improvement in the management of state-owned enterprises, despite the company still recording a loss.

He said NEDCo’s net loss fell from GH¢650.75 million in 2024 to GH¢300.46 million in 2025, representing a 54 percent reduction in the loss.

“In 2024, NEDCo recorded a net loss of GH¢650.75 million. In 2025, we recorded a net loss of GH¢300.46 million. That is 54 percent improvement. That’s fantastic,” he said.

Mr Dapilah argued that the performance of state-owned enterprises should not be judged solely by whether they recorded profits or losses, but also by the extent to which they were reducing losses and improving their operations.

He attributed such improvements to effective leadership and prudent management, stressing that heads of state institutions must remain focused on fulfilling the mandates for which they were appointed.

“So, it also boils down to leadership. It boils down to prudent management of these organisations,” he said.

The NEDCo Board Chairman also supported the Finance Ministry’s requirement for state-owned enterprises to obtain approval before undertaking major financial commitments, including loans and other facilities.

He acknowledged that some state institutions had complained about the measure but argued that it was necessary to protect the country’s finances and strengthen checks and balances.

“I think, see, somebody must watch somebody. This ensures checks and balances,” Mr Dapilah said.

He explained that when state-owned enterprises contract financial obligations and subsequently fail to repay them, the burden can ultimately fall on the government and become part of the country’s fiscal obligations.

“You take a facility, you are not able to pay, then at the end of the day, it is in the books of Government of Ghana, and that cannot be allowed to continue,” he said.

Mr Dapilah further praised SIGA and its leadership for ensuring that managers of state-owned enterprises remain accountable and responsive to their responsibilities.

“This is accountability. This is what we call good governance, and I am so happy about this report,” he said

He urged stakeholders to assess the SIGA report objectively, arguing that even among institutions that recorded losses, there were cases of significant improvement that should not be overlooked.