Outgoing President Nana Akufo-Addo has highlighted the significant progress made in Ghana’s energy sector during his administration, describing it as a transformation that will benefit generations to come.

In his final State of the Nation Address to Parliament, the President indicated that Ghana’s electricity access rate has risen from 79.3 per cent in 2016 to 88.85 per cent, a milestone he attributed to deliberate policies and investments in the energy sector.

He noted, however, that these achievements came amidst challenges, including the $2.5 billion energy sector legacy debt inherited when his administration took office.

“Mr. Speaker, it is worth emphasizing that I inherited a nation plagued by dumsor, but I am very happy to say that I leave office in 2025 with the lights on,” President Akufo-Addo stated.

The President explained that projections from the Energy Sector Recovery Programme (ESRP), developed in collaboration with the World Bank, indicated that without decisive action, the debt could have ballooned to $12.5 billion within five years.

“We knew that such a scenario would cripple the sector, undermine investor confidence, and plunge the nation back into darkness,” he said.

He credited his government’s efforts, including tough negotiations with Independent Power Producers (IPPs), prudent financial management, and targeted interventions, for stabilizing the energy sector and averting the dire forecast.

“I am pleased to report that we have kept the energy sector legacy debt at $2.5 billion, the same level we inherited, and have averted the $12.5 billion debt scenario, despite the rising cost of energy production and the global economic challenges that have unfolded during my tenure,” he added.

President Akufo-Addo expressed confidence that the foundational work done under his leadership would ensure a resilient and sustainable energy sector for the future.