President Mahama justifies investment in energy

President John Dramani Mahama last week Thursday justified the huge investment government has made under the second Compact of the Millennium Challenge Account, the funding for which is expected to arrive in the coming days.

He said although government has focused on increasing energy facilities to become self-sufficient and a net exporter of the commodity, the current inadequacies in the commodity have justified the investment.

President Mahama gave this justification when officials of the second Compact Account presented a report on the first compact and the way forward with the current compact to him at the Flagstaff House, Kanda.

The officials were tasked after the second Compact’s signing in Washington last month, committing to carry out all the necessary steps that will facilitate release of the facility for development projects.

The presentation of the report, when approved, will ensure release of the funds in the coming weeks for commencement of work.

President Mahama gave the assurance that his administration will offer the necessary support to ensure smooth and orderly progress of the second compact.

He said implementation of the compact will improve the energy-sufficiency of Ghanaians, and subsequently make Ghana a net exporter of the commodity to its neighbours in the West African sub-region.

The President commended the former leadership for their diligent implementation of the first compact, and hoped the second compact will receive similar attention during implementation and execution.

Professor Samuel Sefah Dede, Chairman of MiDA, said US$10million of the total of the US$498million has been assigned to the Northern Electricity Distribution Company (NEDco) to step up supply of power to the country’s northern sector.

He said what is left is the establishment of a Board of Directors and key Senior Officers of the Authority; the positions for which, he said, will soon be advertised.

The Chairman explained that for the sake of continuity and effective implementation of the programme, they had decided to keep Mr. Eson Benjamin, former Chief Executive Officer, to streamline issues.

Credit: GNA