[ 2015-03-27 ]

Bawumia Vindicated AGAIN!!!...Ghana 'Owes Nigeria Gas $120m'
The Volta River Authority (VRA) owes Nigeria Gas
approximately $120 million, TV3 can confirm.

High-placed sources say the debt is as a result of
the power-producing company’s inability to pay
off six months of gas supplied.

But it is not the reason for the erratic supply of
gas from Nigeria, our sources assert.

This comes a day after Former Deputy Governor of
the Central Bank and Economist Dr Mahamudu Bawumia
stated that VRA owes Nigeria Gas $100 million, a
reason for “the untold story” of the erratic
supply of gas.

“Nigeria Gas is, therefore, dragging its feet
with regards to the supply of gas while this
amount is unpaid,” Dr Bawumia stated during his
lecture as Visiting Professor of Economic
Governance at the Central University College on
Tuesday, March 24.

“Ultimately, the dumsor problem is more of a
financial problem than a technical one,” he
suggested.

TV3 has gathered that Nigeria is considering
cutting supply of gas to VRA after honouring a
breach-of-agreement compensation by paying $10
million to Ghana for erratic supply.

According to VRA, the Electricity Company of Ghana
(ECG) owes it GH¢1.2 billion, without which it
cannot settle the debt to Nigeria Gas.

Source - TV3

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