Cassiel Ato Forson allocates $200m for nuclear energy readiness program

Finance Minister Dr. Cassiel Ato Forson has announced a US$200 million investment into a 24-month nuclear energy readiness program during the presentation of the 2027 Budget Statement. The initiative, scheduled to run from January 2027 to December 2028, aims to establish the technical and regulatory foundation for Ghana's transition to nuclear power. This strategic investment is designed to provide a reliable source of baseload electricity to support the nation's long-term industrialization goals and household energy needs. Dr. Forson emphasized that the funding would secure the necessary groundwork to move the nation toward a more diversified energy mix.

A critical component of the program involves training more than 2,000 Ghanaian scientists to develop the local expertise required to manage a nuclear facility. Dr. Forson noted that building this human resource capacity is essential for ensuring that the project remains a strategic national asset. The preparations during this 24-month window will specifically focus on site suitability assessments, the selection of appropriate technology, environmental impact evaluations, and the establishment of robust financing frameworks. This phase is intended to prepare the country for the complexities of nuclear infrastructure before any construction begins.

Unlike many recent energy projects, the government intends for the proposed nuclear plant to be entirely state-owned rather than operating under an Independent Power Producer (IPP) model. Dr. Forson drew parallels between this initiative and the construction of the Akosombo Dam by Ghana’s first President, Osagyefo Dr. Kwame Nkrumah, describing it as a visionary investment for future generations. While the readiness program is expected to conclude by December 2028, the Finance Minister clarified that this phase is a prerequisite for entering into construction contracts and does not mark the immediate start of nuclear electricity generation.

The government plans to engage international partners for technical support while maintaining full state ownership of the eventual facility. By securing this funding within the 2027 budget, the administration aims to reduce future dependence on volatile fuel sources and ensure energy sovereignty. The successful completion of the readiness phase by the end of 2028 will determine the timeline for the subsequent construction of the plant, which is envisioned as a cornerstone of Ghana's modern industrial infrastructure.