Accra / Abuja, October 2025 — Ghana and Nigeria are locked in a complex debt and credit standoff that underscores the financial and diplomatic tensions between two leading economies in West Africa.
Gas Debt: Ghana Owes Nigeria ~$7.5 Million (Balance Remaining)
Ghana owes Nigeria an estimated $75 million for gas supply delivered via the West African Gas Pipeline (WAGP) and related arrangements. According to recent reports, Ghana has already settled about 90 % of that total, leaving a residual balance of roughly $7.5 million yet to be paid.
The payments made so far—amounting to approximately $65 million—were reportedly executed in multiple tranches between February and April 2025. The remaining sum is currently under negotiation. The delays are reportedly linked to documentation, fiscal constraints, and institutional coordination issues.
Nigeria’s Minister of State for Petroleum (Gas), Ekperikpe Ekpo, has publicly urged the Ghanaian government to ensure relevant agencies fulfill their financial obligations under the WAGP framework to avoid supply disruptions.
Counter-Claim: Nigeria Owes Ghana $250 to $300 Million in ECOWAS Credits & Regional Loans
On the flip side, some statements claim that Nigeria owes Ghana between $250 million and $300 million in ECOWAS trade credits and regional loans. These alleged claims are circulating in media and social media channels.
However, I did not find credible, mainstream press sources or independent confirmation to substantiate that larger sum in reputable news outlets as of this writing. The claims are present mostly in social media posts and secondary compilations. (That doesn’t mean they’re false, just that I didn’t readily verify them.)
Implications & Outlook
Diplomatic leverage: The juxtaposition of Ghana’s outstanding gas debt and the alleged larger claims against Nigeria may influence bilateral negotiations. Ghana may seek to offset obligations or demand reconciliations of claims. Energy security risk: For Ghana, failure to settle the gas arrears could threaten ongoing gas supply, and thus electricity generation, especially given its reliance on the WAGP infrastructure. Regional integration context: The debt dispute is happening against the background of ECOWAS and regional cooperation ambitions in trade, energy, and infrastructure. Projects like the Atlantic Gas Pipeline (Nigeria–Morocco) and other cross-border initiatives are being pitched, and Ghana has been asked to support them. Need for transparency: For mutual trust and long-term cooperation, both countries may need to publish audit reports, reconcile their claims, and engage independent arbitration or mediation mechanisms.
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