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President John Mahama Power crisis resolved, economy to grow at 4% - Prez Mahama

The IMF has predicted the economy to growth at 3.3 percent, but president Mahama said he is more "bullish" about the economy's growth and that "I believe Ghana will grow more about 4 percent between 3.8 to 4 percent and we predict that in 2017."

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President John Mahama

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President John Mahama said yesterday in a broadcast that Ghana's power crisis has been resolved, adding that he expects the economy to grow about four percent.

"We have resolved the power crisis; we have been able to match demand and supply and so the electricity crisis that hit us is gradually becoming a thing of the past,” he said.

The IMF has predicted the economy to growth at 3.3 percent, but president Mahama said he is more "bullish" about the economy's growth and that "I believe Ghana will grow more about 4 percent between 3.8 to 4 percent and we predict that in 2017."

He told state owned Sunrise FM in the Eastern region that the economy was more "resilient today than it was in the past."

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President Mahama added that the shutdwon of the FPSO Kwame Nkrumah will not affect power supply. He added that additional measures have been rolled out to fire most of the power plants using crude oil.

The FPSO is shut down but we have made continuous arrangements and we are firing most of the power plants using crude oil… we have the structural changes to ensure that the utility services will provide us with power.”

Tullow declared force majeure on two cargoes of Ghana's Jubilee crude oil after an issue on the Floating Production Storage and Offloading (FPSO) facility that exports the oil.

Damaged turret bearing on FPSO Kwame Nkrumah has been placed on "heading control" through the use of tugs which minimise vessel movement around the bearing.

Oil and gas production will continue but under a revised operating and off-take procedures, Tullow said in a statement.

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