The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has pointed out that President-elect John Dramani Mahama has no breathing space as Ghana’s economy continues to face an energy crisis and a crumbling economy.<\/p>\n He mentioned that the newly elected president does not have the luxury of a “honeymoon.”<\/p>\n In an open letter to the President-elect, Ben Boakye stated, “The energy situation demands a careful, surgical examination to ensure you hit the ground running on January 7.”<\/p>\n “This message is not meant to be lengthy, but to emphasize that you will not have the luxury of a ‘honeymoon’ in this situation,” he added.<\/p>\n He highlighted that about GH\u00a250 billion is wasted annually in the energy sector alone, undermining public trust and economic stability in the country.<\/p>\n According to him, the systemic failures in the energy sector are a microcosm of broader governance issues.<\/p>\n He cautioned that the inefficiencies in state agencies, declining investor confidence in the upstream oil and gas sector, and bloated administrative structures require immediate attention.<\/p>\n Ben Boakye noted that the incoming government must prioritise transparency, calling for the transition team to disclose the total outstanding debt in the energy sector before assuming office.<\/p>\n Ben Boakye also stressed that inefficiencies in the downstream petroleum sector must be addressed to restore trust among investors and halt the decline in the upstream sector.<\/p>\n “We can attract a minimum of $2 billion in investments by 2025, but only with swift, decisive action,” he said.<\/p>\n SSD\/MA<\/p>\n Watch the latest edition of BizTech below:<\/b><\/p>\n![\"Executive](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/223\/22373429.295.jpg\" "\\"Executive")
Executive Director of ACEP, Benjamin Boakye<\/span><\/span><\/p>\n<\/div>\n