High-placed sources say the debt is as a result of the power-producing company’s inability to pay off six months of gas supplied.
ADVERTISEMENT
Ghana 'Owes Nigeria Gas $120m'
The Volta River Authority (VRA) owes Nigeria Gas approximately $120 million which has led to the shortage of gas supply to Ghana.
George Sipa-Yankey, Chief Executive Officer of Ghana Gas Company
Recommended articles
But it is not the reason for the erratic supply of gas from Nigeria, our sources assert.
This comes a day after Former Deputy Governor of the Central Bank and Economist Dr Mahamudu Bawumia stated that VRA owes Nigeria Gas $100 million, a reason for “the untold story” of the erratic supply of gas.
“Nigeria Gas is, therefore, dragging its feet with regards to the supply of gas while this amount is unpaid,” Dr Bawumia stated during his lecture as Visiting Professor of Economic Governance at the Central University College on Tuesday, March 24.
ADVERTISEMENT
“Ultimately, the dumsor problem is more of a financial problem than a technical one,” he suggested.
TV3 has gathered that Nigeria is considering cutting supply of gas to VRA after honouring a breach-of-agreement compensation by paying $10 million to Ghana for erratic supply.
According to VRA, the Electricity Company of Ghana (ECG) owes it GH¢1.2 billion, without which it cannot settle the debt to Nigeria Gas.
Source: TV3network
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
‘Dumsor’ challenges will end in a few days – ECG Board Chairman assures Ghanaians
We’ll prosecute corrupt appointees under Akufo-Addo’s govt – Prof. Opoku-Agyeman
How First and Second Ladies rejected and refunded all allowances given to them since 2017
Russian Deputy Defence Minister, Ivanov detained for accepting large bribes
Vice President Dr. Bawumia meets Pope Francis in Rome
Payment of salaries to spouses of President, Vice President illegal – Supreme Court
Celebrating a Maternal Pillar: The enduring legacy of Comfort Naa Momo Amugi
Akufo-Addo tasks the Finance Ministry, GRA to renegotiate the SML contract
