The Ghanaian Government has resolved to pay Nigeria the sum of 170 million dollars by February 2015 for gas supply bill it owed the country.
Kweku Sersah, spokesman for Ghana’s Ministry of Power, said Ghana’s state power generating company, the Volta River Authority, will settle the debt to Nigeria’s N-Gas in three tranches starting in November, also noted that the terms were still being finalised.
The payment, if made, would apparently resolve a dispute that led the consortium to threaten to cut supply to the Ghanaian country.
Sersah said in a statement that the high-powered delegation that went to the Nigerian capital Abuja was able to negotiate for Nigeria Gas (N-Gas) to continue to supply the country the needed gas.
Ghana’s government has promised to end crippling power blackouts by the end of the year.
Report has shown that Ghana gets around 25 per cent of its power through gas from Nigeria.
The threat by N-Gas to reduce supplies by 70 per cent would have made it harder to achieve the government’s goal of tackling blackouts and raising the cost of supply.
The issue is said to be sensitive in the run-up to Ghana’s election next year that is expected to be closely fought, as power cuts have angered voters.