Former Finance Minister Mohammed Amin Adam has dismissed the government’s announcement of a US$1.47 billion payment to settle energy sector debt as a public relations exercise, arguing that such payments are routine and were undertaken by the previous New Patriotic Party (NPP) administration without fanfare.
In a statement reacting to a 12 January 2026, press release by the Ministry of Finance, Adam said the current government was overstating what he described as standard fiscal practice.
The ministry had announced what it termed a “decisive” resolution of “crippling energy sector debt,” alongside the restoration of a US$500 million World Bank Partial Risk Guarantee (PRG), presenting the move as evidence of fiscal discipline.
Adam challenged that narrative, stating that the settlement of energy sector arrears was not new and had been consistently handled under the NPP government. He accused the current administration of “doing PR with everything,” insisting that similar payments were made in the recent past without being framed as extraordinary achievements.
To support his claims, the former minister referenced the 2025 Budget presented by the current government. He pointed to Table 17 of the budget, which details “Energy Sector Shortfall Payments” made in 2024 under the NPP administration, amounting to US$1,464.52 million—nearly identical to the US$1.47 billion now being highlighted.
According to the budget data cited by Adam, the 2024 payments included US$395.25 million to Independent Power Producers (IPPs) such as Cenpower and Sunon Asogli, US$775.12 million to fuel suppliers—including more than US$605 million for Sankofa gas—US$250.40 million to State-Owned Enterprises (SOEs) such as the Electricity Company of Ghana (ECG) and the Bui Power Authority, and US$43.75 million to settle an arbitral award owed to Messrs GPGC.
Adam argued that while the current administration is generating “noise” over its payment, the NPP government settled comparable obligations quietly as part of its normal fiscal management responsibilities.
The comments underscore a growing dispute between the two administrations over credit for stabilising Ghana’s energy sector finances. While the Ministry of Finance maintains that the latest payments have fully restored the PRG facility and reaffirmed Ghana’s credibility with international partners, the former finance minister insists the actions represent continuity rather than a policy breakthrough.
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