GHANA AGREES TO PAY N33.8BN GAS DEBT BY FEB 2016

The President of Ghana, John Mahama today reached an agreement with the government of Nigeria represented by NNPC GMD Ibe Kachiukwu, to pay off the N33.8 billion owed Nigeria from the gas supply provided by a Nigerian gas company, N-Gas, the main supplier of gas to Ghana’s Volta River Authority through the West African Gas Pipeline.

The N-Gas buys gas from NNPC and transports it to its customers in Benin, Togo and Ghana. The N-Gas had recently threatened to cut gas supply by 70% to Ghana’s main power generation company due to unpaid debts of $181m (33.8bn).