President John Dramani Mahama has painted an optimistic picture of Ghana’s economic and energy sector recovery during an interaction with the Ghanaian community in Zambia.
Speaking as part of his three-day state visit, the President highlighted notable improvements in power stability, financial performance within the energy sector, and the revival of critical national infrastructure.
Addressing Ghanaians resident in Zambia, President Mahama said the progress being recorded across key sectors is beginning to reflect in the daily lives of citizens, particularly in the availability and reliability of electricity supply.
“Every sector is showing improvement, the energy sector is more stable now, and people’s lights are not going off,” he said, adding humorously that he had seen viral videos of people jokingly asking the Electricity Company of Ghana (ECG) to switch off power briefly because their meat had frozen.
Power Sector Stability
President Mahama attributed the improved stability in the power sector to decisive interventions by his administration to resolve long-standing financial and operational challenges.
According to him, accumulated debts within the energy value chain had previously threatened electricity generation and supply, but those issues are now being systematically addressed.
“We’ve paid down the energy sector debts, we’ve paid for the gas that we’ve been consuming for electricity.”
President John Dramani Mahama
He further noted that independent power producers, who had been owed significant sums for years, have received payments and are now operating under structured payment plans to clear outstanding arrears.
The President said these actions have restored confidence among power producers and suppliers, ensuring uninterrupted generation and a more resilient energy system.
ECG’s Remarkable Financial Turnaround
One of the most striking developments highlighted by President Mahama in Zambia was the financial recovery of the Electricity Company of Ghana. Once burdened by inefficiencies and weak revenue mobilization, ECG has reportedly made a significant turnaround.
Describing ECG metaphorically, the President said the utility company had been “a very sick man” but has now recovered.
“Collections that were as low as GH₵1 billion to GH₵1.2 billion a month have risen to GH₵1.9 billion and rising. Miracles continue to happen.”
President John Dramani Mahama
The improved revenue performance, he explained, is critical for sustaining power supply, maintaining infrastructure, and reducing the need for government bailouts.
Revival of TOR Boosts Local Capacity
President Mahama also drew attention to the revival of the Tema Oil Refinery (TOR), which he said had been dormant for many years. According to him, the refinery has resumed operations and is once again refining crude oil in Ghana.
He explained that the refinery’s operations are already yielding economic benefits by reducing Ghana’s dependence on imported refined petroleum products.
When TOR is operational, crude oil can be imported and processed locally, allowing the country to secure petroleum products at lower costs.
The President linked the refinery’s gradual return to operation to recent reductions in petroleum prices, noting that local refining helps Ghana avoid purchasing fuel at volatile spot prices on the international market.
“The good thing is when Tema oil refinery is working, it allows us to bring in petroleum products at a lower cost,” he said, adding that processing crude locally increases volumes and improves pricing efficiency.
While acknowledging that the refinery is not yet operating at full capacity, President Mahama expressed confidence that increased production would further benefit the economy.
He also pointed to external factors such as a dip in global crude oil prices and the appreciation of the Ghanaian cedi as contributing to improved fuel prices.
Optimism During State Visit
President Mahama in Zambia used the engagement to reassure Ghanaians abroad that the government’s economic recovery efforts are yielding results.
From stabilizing the energy sector to restoring key institutions and infrastructure, he said the focus remains on delivering tangible improvements that positively affect households and businesses.
As his state visit continues, the President’s remarks have underscored a message of cautious optimism, highlighting energy sector reforms and industrial revival as central pillars of Ghana’s broader economic progress.
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