The Ghanaian Government delegation is in Nigeria to hold emergency talks with the Federal Government, to avert a drastic gas supply cut threat.
The Nigerian National Petroleum Corporation (NNPC) said it will cut gas supply by 70 per cent to Ghana’s main power generation company by Friday, owing to unpaid debts of $181 million.
Ghana has already suffered power shortages and Nigerian gas meets about 25 per cent of its needs.
Ghana was for years one of Africa’s economic stars, but falling global commodity prices have blunted the value of its gold, cocoa and oil exports. Its fiscal problems include inflation of up to 17.4 per cent in September, a currency that has fallen sharply in the last two years and a debt-to-GDP ratio of around 70 per cent.
Ghana was for years one of Africa’s economic stars, but falling global commodity prices have blunted the value of its gold, cocoa and oil exports. Its fiscal problems include inflation of up to 17.4 per cent in September, a currency that has fallen sharply in the last two years and a debt-to-GDP ratio of around 70 per cent.
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