President John Dramani Mahama has announced that Ghana has fully settled all outstanding gas invoices owed to ENI andVitol, bringing payments to approximately $500 million.
Delivering the 2026 State of the Nation Address in Parliament on Friday, February 27, President Mahama said the move ensures that Ghana is completely up to date with its financial obligations to the Sankofa partners. According to him, the government now pays for all gas consumed and has made sufficient allocations in the 2026 Budget to guarantee timely payments for future Liquefied Natural Gas (LNG) deliveries.
He described the settlement as a significant step toward restoring confidence in Ghana’s energy sector and strengthening the country’s reputation as a dependable international partner.
The President noted that the gas payment forms part of a series of broader economic achievements chalked up by his administration. Among them, he highlighted Ghana’s economy surpassing the $100 billion mark for the first time and the successful settlement of a $500 million World Bank guarantee.
Beyond debt repayments, President Mahama pointed to improvements in currency stability as a sign of economic recovery. He stated that the Ghana cedi has appreciated by 40.7 percent against the US dollar, 30.9 percent against the British pound, and 24 percent against the euro.
“We did not just arrest currency instability; we strengthened the cedi to put up a good fight against other currencies,” he said, describing the gains as part of a deliberate currency stabilisation and economic recovery strategy.
President Mahama maintained that the combined progress in debt settlement, fiscal discipline, and currency performance signals that Ghana’s economy is regaining strength and credibility on the global stage.
