{"id":60902,"date":"2025-06-04T18:25:28","date_gmt":"2025-06-04T18:25:28","guid":{"rendered":"https:\/\/sotnews.agency\/?p=60902"},"modified":"2025-06-04T18:25:28","modified_gmt":"2025-06-04T18:25:28","slug":"well-audit-funds-regularly-and-make-reports-public-mahama-on-gh%e2%82%b51-fuel-levy","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=60902","title":{"rendered":"We\u2019ll audit funds regularly and make reports public \u2013 Mahama on GH\u20b51 fuel levy"},"content":{"rendered":"<div class='booster-block booster-read-block'>\n                <div class=\"twp-read-time\">\n                \t<i class=\"booster-icon twp-clock\"><\/i> <span>Read Time:<\/span>2 Minute, 3 Second                <\/div>\n\n            <\/div><div>\n<p>President John Mahama has mounted a strong defence for the newly approved one Ghana cedi charge on every litre of fuel purchased, calling it a necessary step to rescue Ghana\u2019s ailing energy sector and avert a looming power crisis.<\/p>\n<p>Speaking at the presentation of the final report of the National Economic Dialogue 2025 on Wednesday, June 4, the President said the decision, though difficult, is grounded in the harsh realities of Ghana\u2019s energy debt burden and the urgent need to stabilise power supply.<\/p>\n<p>\u201cOur energy sector carries a debt burden of over US$3.1 billion,\u201d President Mahama said, adding that \u201cwith an estimated US$1.8 billion more required to finance fuel procurement\u00a0for uninterrupted thermal power generation in the coming months.\u201d<\/p>\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.myjoyonline.com\/parliament-approves-new-gh%C2%A21-fuel-levy-after-minority-walkout\/\" target=\"_blank\" rel=\"noopener\">Read also: Parliament approves new GH\u00a21 fuel levy after minority walkout<\/a><\/li>\n<\/ul>\n<p>He warned that failing to tackle this crisis head-on could threaten national productivity and derail industrial growth, noting that the dialogue identified energy sector liabilities as \u201cthe greatest existential threat to fiscal consolidation and macroeconomic stability.\u201d<\/p>\n<p>This, he said, led to the approval of the amendment to the Energy Sector Levies Act by Parliament on Tuesday, June 3, fast-tracked under a Certificate of Urgency. <\/p>\n<p>The amendment introduced a one cedi increase in the energy sector recovery levy, an intervention, President Mahama stated, that \u201cthough difficult, is necessary and justifiable.\u201d<\/p>\n<p>\u201cThe additional revenue projected is 5.7 billion\u00a0cedis annually. This revenue will be strictly ring-fenced to pay down legacy energy debt,\u00a0finance ongoing fuel purchases, and avert the risk of recurring power shortages.\u201d<\/p>\n<p>The President assured that the funds would not be exposed to the risks of the consolidated fund. Instead, a dedicated mechanism will manage the revenue, with regular audits and public reporting to ensure transparency and accountability.<\/p>\n<p>\u201cThe fund will be regularly audited and audit reports made public to ensure its transparent use.\u00a0While initially much of this revenue will go into the purchase of fuel to ensure a stable supply\u00a0of electricity, with the ongoing developments in the upstream sector, we expect to receive\u00a0more gas from our E&#038;I Sankofa and Jubilee and TEN Fields.<\/p>\n<p>\u201cWith the assurance of additional\u00a0gas through the West African Gas Pipeline, we expect to substantially reduce the use of liquid\u00a0fuels in our energy mix. At that stage, the resources generated by this increased levy\u00a0will be channelled to pay down accumulated legacy debts in the power sector,\u201d President Mahama added.<\/p>\n<\/div>\n        <div class=\"booster-block booster-reactions-block\">\n            <div class=\"twp-reactions-icons\">\n                \n                <div class=\"twp-reacts-wrap\">\n                    <a react-data=\"be-react-1\" post-id=\"60902\" class=\"be-face-icons un-reacted\" href=\"javascript:void(0)\">\n                        <img decoding=\"async\" src=\"https:\/\/sotnews.agency\/wp-content\/plugins\/booster-extension\/\/assets\/icon\/happy.svg\" alt=\"Happy\">\n                    <\/a>\n                    <div class=\"twp-reaction-title\">\n                        Happy                    <\/div>\n                    <div class=\"twp-count-percent\">\n                                                    <span style=\"display: none;\" class=\"twp-react-count\">0<\/span>\n                     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Speaking at the presentation of the final report of the National Economic Dialogue 2025 on Wednesday, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-60902","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-blog"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/60902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60902"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/60902\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}