{"id":264823,"date":"2024-12-13T09:05:12","date_gmt":"2024-12-13T09:05:12","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/13\/acep-warns-of-looming-crisis-in-ghanas-energy-sector\/"},"modified":"2024-12-13T09:05:12","modified_gmt":"2024-12-13T09:05:12","slug":"acep-warns-of-looming-crisis-in-ghanas-energy-sector","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/13\/acep-warns-of-looming-crisis-in-ghanas-energy-sector\/","title":{"rendered":"ACEP warns of looming crisis in Ghana&#8217;s energy sector"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/194\/19459759.295.jpg\" alt=\"Executive Director of ACEP, Benjamin Boakye\" title=\"Executive Director of ACEP, Benjamin Boakye\" width=\"295\" height=\"172\" \/> <span class=\"image_caption\"><span>Executive Director of ACEP, Benjamin Boakye<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">The Executive Director of the Africa Centre for Energy Policy (ACEP),Benjamin Boakye, has raised concerns about the energy sector, describing it as plagued by inefficiencies and mismanagement.<\/p>\n<p>In a detailed opinion piece, Boakye emphasized the urgent need for reform, citing an annual waste of over GH\u00a250 billion, far exceeding Ghana\u2019s annual oil revenue.<\/p>\n<p>\u201cThe energy sector has been systematically decimated, enriching a few while the public bears the cost through taxes, levies, and inflated margins,\u201d Boakye wrote.<\/p>\n<p>Boakye criticized the overstaffing of energy agencies, driven largely by politically motivated appointments, which increases public expenditure while yielding little efficiency.<\/p>\n<p>He also highlighted the precarious state of the Electricity Company of Ghana (ECG), describing it as a major drain on national resources due to persistent political interference and poor management.<\/p>\n<p>\u201cThe ECG has become the single largest dependent on the national budget,\u201d he lamented.<\/p>\n<p>Boakye warned of the upstream oil and gas sector\u2019s decline, urging swift measures to rebuild investor confidence and unlock an estimated $2 billion in investments by 2025.<\/p>\n<p>He called on President-elect John Mahama to undertake decisive reforms, describing the situation as requiring \u201ca surgical examination\u201d to restore efficiency and sustainability.<\/p>\n<p>Without immediate action, Boakye cautioned, the energy sector\u2019s challenges could spiral further out of control, with dire consequences for the economy.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Executive Director of ACEP, Benjamin Boakye The Executive Director of the Africa Centre for Energy Policy (ACEP),Benjamin Boakye, has raised concerns about the energy sector, describing it as plagued by inefficiencies and mismanagement. In a detailed opinion piece, Boakye emphasized the urgent need for reform, citing an annual waste of over GH\u00a250 billion, far exceeding [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":264824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-264823","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ACEP warns of looming crisis in Ghana&#039;s energy sector - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/13\/acep-warns-of-looming-crisis-in-ghanas-energy-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ACEP warns of looming crisis in Ghana&#039;s energy sector - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Executive Director of ACEP, Benjamin Boakye The Executive Director of the Africa Centre for Energy Policy (ACEP),Benjamin Boakye, has raised concerns about the energy sector, describing it as plagued by inefficiencies and mismanagement. 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