"Paying Energy Sector Debts of $1.4Bn is Not New": Former Finance Minister Tells Ato Forson

• President John Mahama's government has reportedly cleared Ghana's $1.47 billion energy sector debt
• Dr Cassiel Ato Forson said the energy sector was on the brink due to non-payment for OCTP gas supplies
• However, ex-Finance Minister Dr Mohammed Amin Adam claimed the NPP paid $1.4 billion in 2024 without fanfare

President John Dramani Mahama's government has reportedly paid its $1.47 billion energy sector debt.

This was disclosed in a press statement by the finance minister, Dr Cassiel Ato Forson.

In the statement dated Monday, January 12, 2026, Dr Forson stated that the energy sector debt had risen to the brink before the ruling National Democratic Congress (NDC) assumed office in January 2025.

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According to him, this was caused by years of persistent non-payment for gas supplied to the power sector from the Offshore Cape Three Points (OCTP) field.

"When President Mahama assumed office in January 2025, the energy sector had been pushed to the brink by years of persistent non-payment for gas supplied to the power sector from the Offshore Cape Three Points (OCTP) field. As a result, the World Bank Partial Risk Guarantee of US$500 million had been completely depleted under the previous administration," the statement read.

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Ex-Finance Minister reacts to energy debt payment

Reacting to this in a Facebook post dated January 12, the immediate past minister for finance, Dr Mohammed Amin Adam, said the reported settlement of the energy sector debts was nothing extraordinary as all governments do the same.

He said the previous New Patriotic Party (NPP) government, in which he served as finance minister, paid $1.4 billion of the energy sector debts in 2024 without making noise about it.

This, he said, was captured in the 2025 Budget presented by the NDC government.

"The NDC government does PR with everything. Paying energy sector debts of $1.4 billion is not new. As captured in the 2025 Budget presented by the NDC government, the previous NPP government paid $1.4 billion of the energy sector debts in 2024 without making noise about it," he wrote.

Read the Facebook post below:

Reactions to Adam's comments on debt payment

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Dr Amin Adam's comments on Ghana's settlement of the $1.4 billion energy sector debts have sparked reactions.

YEN.com.gh compiled a few of the reactions below:

@Egya Adu Ekumfi said:

"If you refuse to tell your story, no one will do it for you. Next time, tell your story well."

@Eredon Gien Joseph also said:

"But wait, oohh, should we have come to help you shout? You said you didn’t want to make noise, anaa?"

@Issah Abdullah commented:

"Master, you don't have any problem, just relax and take your coffee cup, drink and get some of your butter bread and enjoy yourself and watch our government, they will teach you how to hold the country."

Energy expert Benjamin Boakye cautions Ato Forson

Meanwhile, YEN.com.gh reported that Benjamin Boakye, the Executive Director of ACEP, had warned Dr Ato Forson against repeating the mistakes of his predecessor in relying heavily on taxes.

He criticised the GH¢1 fuel levy, calling it a poor way to address the sector's inefficiencies, which require decisive leadership.

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Despite opposition, Parliament passed the Energy Sector Levy (Amendment) Bill, amid rising concerns over Ghana's growing energy sector debts.

Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.

Source: YEN.com.gh