President Akufo-Addo has said there was nothing more demoralizing than the phenomenon Ghanaians called DUMSOR under the erstwhile government headed by former President John Mahama.
In an address to Parliament on Tuesday, February 27, 2024, the President stated that “It was symptomatic of a dysfunctional system, and it caused widespread depression amongst businesses and households. After that experience, my government was determined that DUMSOR would not be inflicted upon Ghana and Ghanaians under an NPP government, and I am glad to be able to say, SO FAR, SO GOOD, we have managed to keep the lights on these last seven (7) years, even in the midst of a financial crisis.”
He continued that his government, managed the energy sector with discipline and expertise, to avoid a repetition of the hardships inflicted on Ghanaians some years ago.
“Furthermore, through determined, skilful negotiation, we have been able to reduce considerably the energy sector debt that we inherited”, he said.
He explained further that “Indeed, the Government Negotiating Team carried out a successful reconciliation exercise with the IPPs and ECG, which established that the IPP arrears position was not the one-point-six billion dollars (US$1.6 billion) that had been previously reported in the media, but was actually one-point-two billion dollars (US$1.2 billion), that is savings of some four hundred million dollars (US$400 million).”