Richmond Eduku, a finance and energy policy analyst, has called on Ghana to align its oil expansion plans with pressing fiscal and climate realities. In a statement on September 10, 2025, he highlighted a “central paradox” for the country: the need to consolidate finances while heavily relying on hydrocarbons. Following the IMF’s approval of a $3 billion Extended Credit Facility in July 2025, which released $367 million, Eduku emphasized that energy sector reform is now a top fiscal priority.
With the government admitting to $2.5 billion in arrears to power producers and gas suppliers, and the Electricity Company of Ghana facing a 40% revenue loss, immediate action is needed. While the government aims to maximize oil and gas extraction, Eduku warned that such expansion must consider long-term risks, including adaptation costs and fluctuating demand in a decarbonizing world.
He pointed out that Ghana’s Country Climate and Development Report indicates that without urgent adaptation measures, up to one million people could fall into poverty by 2050. Eduku believes that every oil-related decision should prioritize fiscal prudence and resilience. Citing examples from countries like Jordan and Portugal, he noted that fiscal recovery and low-carbon growth can coexist through tough reforms and renewable energy investments.
He urged Ghana to redirect support from rigid gas contracts towards improving energy grids and enhancing climate resilience, asserting that true energy security must balance fiscal responsibility with climate action.