Ghana's energy sector is in its current situation because of the bad economic practices of the ruling National Democratic Congress (NDC) government in the last eight years, Vice Presidential Candidate of the New Patriotic Party (NPP), Dr Mahamudu Bawumia has stated.
According to him, the excessive borrowing by the Mills/Mahama government since they took over the reins of government in 2009 and interest payments has made them not to be able to improve infrastructure in the energy sector.
Speaking at a lecture themed “The state of the Ghanaian economy - A foundation of concrete or straw” at the National Theatre on Thursday, Dr Bawumia explained the main power generator of the country, the Akosombo Dam has been over drafted and cannot support the pressure on it anymore leading to "generation shortfalls in the power and energy sector" because we have not improved infrastructure in the sector.
"We have maintained that the problem in the power sector is a financial problem but govt denies it" but Ghana needs a long term energy security to be taken seriously", he indicated.
He warned that the industrialisation agenda of Ghana is likely to fail if the current energy management style of the government continues as businesses will collapse.
“The cost of electricity to industry has been alarmingly high, and this has led to the collapse of some factories"