Business News of Thursday, 15 May 2025
Source: www.ghanawebbers.com
Ishmael Agyekumhene, a former board member of the Public Utilities Regulatory Commission (PURC), criticized Energy Minister John Jinapor. He urged the Minister to take responsibility for Ghana’s worsening power crisis. Agyekumhene believes Jinapor should stop making excuses.
On May 15, during an interview on JoyNews’ The Pulse, he expressed concern about fuel supplies. He noted that it has been nearly four months since Jinapor took office. “We have only two and a half days of liquid fuel?” he questioned. Agyekumhene said the Minister had enough time to secure supplies.
He acknowledged that disruptions can happen, like issues at the Atuabo gas processing plant. However, he insisted this situation shows poor planning. “There’s no excuse when we don’t have cash to buy fuel,” he stated.
His comments came after Jinapor informed Parliament's Energy Committee about the fuel shortage. The country has just 2.6 days' worth of liquid fuel for thermal plants. The Ministry is trying to raise funds for procurement quickly.
Agyekumhene argued that the crisis reflects deeper structural and financial problems in the power sector. “No one sells crude oil on credit,” he explained. A single cargo costs around $50 million, and Ghana lacks cash for this purchase.
He pointed out that if ECG collected payments properly, they wouldn’t face this issue. He also highlighted inconsistencies in Jinapor's statements over time. When in opposition, Jinapor claimed there was no excess capacity; now he admits there is some.
Yet, Agyekumhene noted they still owe money for unused capacity and are not paying for produced power. He urged the government to fix revenue collection issues urgently. Additionally, he recommended prioritizing efficient gas-based power generation over costly liquid fuels.
“Gas is cheaper,” he emphasized. If gas isn’t available, there should be strategic reserves of liquid fuel—ideally enough for a month instead of just two days.