No honeymoon for Mahama – Ben Boakye

The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has cautioned that the incoming Mahama administration will not enjoy the luxury of a “honeymoon” period due to the pressing challenges facing the country, particularly in the energy sector.

“The energy situation demands a careful, surgical examination to ensure you hit the ground running on January 7,” Boakye stated in an open letter to President-elect John Mahama.

Highlighting the scale of the issues, he noted that over GH¢50 billion in annual waste within the energy sector undermines public trust and threatens economic stability.

He described the systemic failures in the energy sector as a reflection of broader governance challenges, warning that inefficiencies in state agencies, declining investor confidence in the upstream oil and gas sector, and bloated administrative structures require immediate attention.

“This message is not meant to be lengthy but to emphasize that you will not have the luxury of a ‘honeymoon’ in this situation,” Boakye cautioned.

He underscored the importance of prioritizing transparency and urged the transition team to disclose the total outstanding debt in the energy sector before the new administration takes office.

Boakye also emphasized the need to address inefficiencies in the downstream petroleum sector and restore investor confidence to halt the decline in the upstream oil and gas industry.

“We can attract a minimum of $2 billion in investments by 2025, but only with swift, decisive action,” he stated.

The challenges extend beyond energy, encompassing a strained economy and heightened public expectations following Mahama’s landslide victory.

Boakye expressed hope that constructive policy ideas from the public domain would be embraced to tackle these challenges head-on.