By Vision1 FM
Copyright vision1fm
Ghana Secures $1.5 Billion Energy Deal to Power Growth and Jobs
Ghana has taken a major step toward revitalizing its energy sector with the signing of a $1.5 billion investment agreement aimed at boosting oil and gas production and accelerating the country’s Gas-to-Power agenda.
The Memorandum of Intent, signed at the Africa Oil Week, brings together the Government of Ghana, ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC). The deal is expected to play a key role in expanding the country’s energy capacity, creating jobs, and powering Ghana’s long-term economic growth.
A Vote of Confidence in Ghana’s Energy Future
Speaking at the event, Minister of Energy and Green Transition, John Jinapor, described the investment as a strong endorsement of Ghana’s energy sector and the broader economy.
“This isn’t just about the numbers — it’s a clear vote of confidence in Ghana’s upstream petroleum potential, our economic prospects, and our vision for the future,” he said.“It’s about jobs, infrastructure, and laying the foundation for a more secure and sustainable energy system.”
Jinapor emphasized that the deal is part of a wider strategy to modernize Ghana’s oil and gas operations, strengthen partnerships with international investors, and deliver on the government’s promise to grow the sector in a way that benefits all Ghanaians.
Gas-to-Power Policy at the Core
Central to the agreement is Ghana’s Gas-to-Power Policy, which focuses on using the country’s own natural gas reserves to generate electricity. Jinapor explained that this approach will cut reliance on imported fossil fuels, lower energy costs, and support environmentally responsible development.
“Our goal is to make the most of what we have — turning our natural gas into reliable, affordable power for homes, businesses, and industries,” he said.
Resetting and Rebuilding the Sector
The Minister acknowledged that Ghana’s oil production has dipped in recent years but stressed that this deal marks the beginning of a new era of resilience and recovery.
“We’re taking bold steps to turn things around,” he stated.“This partnership with ENI, Vitol, and GNPC is just the beginning. We’re committed to making our energy sector stronger, more competitive, and better positioned to support national development.”
What the $1.5 Billion Investment Means for Ghanaians
The agreement is expected to deliver wide-reaching benefits:
Thousands of direct and indirect jobs
Major infrastructure projects
Increased energy security
A stronger, more competitive oil and gas sector
With Ghana aiming to become a key energy hub in West Africa, this deal lays the groundwork for long-term growth, industrialization, and innovation — all while aligning with President John Dramani Mahama’s vision of a fair, balanced, and business-friendly energy landscape.
