Increase in ESLA: Revenue to Be Ring-fenced…to Pay Energy Legacy Debts

President Mahama Signs Energy Levy Act, Commits to Fixing Power Sector

President John Dramani Mahama has signed into law the Energy Sector Levy (Amendment) Act, 2025, reaffirming his government’s commitment to resolving Ghana’s long-standing energy crisis and clearing a legacy debt that has threatened national economic stability.  In a brief but consequential ceremony held at Jubilee House, President Mahama described the move as “a painful but necessary decision” to end a cycle of persistent energy sector deficits,…

Gov't strikes US$2bn deal with energy majors, extend oil licences to 2040

By Joshua Worlasi AMLANU  Government has signed a memorandum of understanding with international oil firms and state-owned partners to extend two key offshore production licences until 2040, unlocking up to US$2billion in new investment aimed at bolstering crude output and gas supply. The agreement, announced in a statement on Wednesday, June 4, 2025, involves government, Tullow Oil Plc, Kosmos Energy Ltd., PetroSA, Ghana National Petroleum Corp…

Increase in ESLA: Revenue to be ring-fenced…to pay energy legacy debts

President John Dramani Mahama has assured that revenue to be realized from the Energy Sector Levies (Amendment) Act would be strictly ring fenced to pay legacy energy sector debts, finance ongoing fuel purchase and avert the risk of recurring power shortages. “Funds from this levy will not be subject to the hazards of the consolidated fund. The fund will be regularly audited and audit report made public to ensure its transparent use,” he stated.…

Government Increases Levy to Settle Energy Debt; Finance Minister Promises Low Blowback on Consumers

The Parliament of Ghana has passed an amendment to the Energy Sector Levies Act that was passed in March this year. The amendment which was considered by the House under a certificate of urgency, where the rules are suspended to enable the bill to be taken through all the stages of legislation usually in one […]

It’s a tough call, but it’s necessary to save our power sector – Mahama defends GH¢1 dumsor levy

President John Dramani Mahama has spoken out in defense of the controversial GH¢1 increase in the Energy Sector Recovery Levy (ESLA), describing it as a difficult but crucial step to rescue Ghana’s power sector from collapse. In a statement on Tuesday, the President revealed that Ghana’s energy sector debt has ballooned to over US$3.1 billion, with an additional US$1.8 billion required to secure fuel for consistent thermal power generation in th…

Ghana Approves Fuel Levy Hike to Tackle $3.1 Billion Energy Sector Debt

News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ghana-approves-fuel-levy-hike-to-tackle-3-1-billion-energy-sector-debt/Ghana’s Parliament has enacted the Energy Sector Levy (Amendment) Bill, 2025, implementing a GHS1 increase per liter of petroleum products effective immediately. Finance Minister Dr. Cassiel Ato Forson presented the measure as essential for stabilizing the nation’s energy sector, proje…