[ 2014-09-19 ]

President Mahama justifies investment on energy
Accra, Sept. 18, GNA – President John Dramani
Mahama on Thursday justified the huge investment
government had made under the second Compact of
the Millennium Challenge Account in the coming
days.

He said although government had focused on
increasing energy facilities to become
self-sufficient and a net exporter of the
commodity, the current inadequacies in the
commodity had 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
on the current compact to him at the Flagstaff
House, Kanda.

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

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

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

He said the implementation of the compact would
improve on the energy needs of Ghanaians and
subsequently to make Ghana a net exporter of the
commodity to her 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 would receive a
similar attention during implementation and
execution.

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

He said what was left was the establishment of a
Board of Directors and key Senior Officers of the
Authority, the positions he said, would soon be
advertised.

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

Source - GNA

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