Prez Mahama justifies investment on energy

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.