The Ministry of Energy has confirmed the procurement of 450,000 barrels of Light Cycle Oil to stabilize Ghana’s power supply, with spokesperson Richmond Rockson assuring citizens that additional shipments are forthcoming.
The announcement comes as the sector grapples with a $3 billion debt and the Electricity Company of Ghana’s (ECG) monthly GH₵2 billion revenue shortfall, which annually escalates to nearly GH₵30 billion in under-recoveries.
Rockson emphasized that while immediate measures are preventing power crises, structural reforms remain critical.
“The fuel component’s exclusion from electricity tariffs creates unsustainable government subsidies,” he stated during a Starr News interview, highlighting the need for tariff adjustments to address systemic inefficiencies.
The ministry maintains its commitment to both short-term solutions and long-term sector sustainability.
