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

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.

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

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT