President John Dramani Mahama has confirmed the full repayment of the $500 million World Bank guarantee, including accrued interest.
Delivering the State of the Nation Address in Parliament, on Friday, February 27, 2026, President Mahama stated that all outstanding gas invoices owed to Ente Nazionale Idrocarburi (ENI) and Victor, also totalling approximately $500 million, have been settled.
This critical action has reinstated the facility in its entirety, reinforcing Ghana’s reputation as a credible and reliable player on the global stage.
He emphasized the constructive engagements held with Talo Oil and partners in the Jubilee Field, which have led to the establishment of a comprehensive roadmap to ensure equitable and timely payments for all gas consumed.
“And so Ghana is now fully up to date with its gas consumption obligations to the Sankofa partners.
To ensure equity and fairness the government has also held constructive engagement with Talo oil and Jubilee Field, this approach will support reliable nationwide electricity generation and accelerate industrial growth,” he uttered.
The president indicated that these developments will support reliable nationwide electricity generation and boost industrial growth by rapidly increasing domestic gas supply, thereby reducing reliance on expensive liquid fuels.
He noted that the 2026 budget has allocated sufficient funds to ensure timely payments for all liquid natural gas consumed moving forward.
Source: Vanessa Elizabeth Nkum
