Minister for Energy, John Jinapor, has revealed shocking financial mismanagement at the Electricity Company of Ghana (ECG).
The revelation has exposed a pattern of massive overspending that has drained the company’s resources.
According to the Minister, ECG’s planned procurement in 2024 was GH¢1.397 billion, yet by the end of the year, actual spending had ballooned to GH¢8.2 billion, far beyond their approved budget.
A similar situation occurred in 2023, when ECG planned for under GH¢1 billion in procurement but ultimately spent GH¢8.3 billion, exceeding the budget by more than GH¢7.3 billion.
“This represents a staggering 700 percent increase over what was budgeted,” Jinapor emphasised. “In 2022, ECG procured GH¢1.3 billion worth of items. By 2023, it had skyrocketed to GH¢8.3 billion, and in 2024, it was GH¢8.2 billion. This reckless over-expenditure has crippled ECG financially” he lamented.
National Security Operatives have arrested fourteen persons including ten Chinese nationals and four Ghanaians in connection with the missing one thousand, three hundred containers belonging to the ECG.
Jinapor assured Ghanaians that measures would be taken to hold those responsible accountable and that the government would work to stabilize ECG’s finances.
“In simple terms, I want my containers simple as that,” he declared.
“Wherever they are, we will trace them. Those we have apprehended will not just be prosecuted, we will go to court, seek an order to sell their assets, and use the money to invest in the grid system to make power delivery more reliable.”
According to the Chief Superintendent Osman Alhassan, Director of Investigations at the National Security Council Secretariat, no Indian has been arrested in connection with the ECG missing containers.
