Ghana Gas records strong profit growth as 2025 net profit more than doubles to ₵246.25m -SIGA Report

Energy Sector: Positive Momentum

The Ghana National Gas Company Limited (Ghana Gas) recorded a significant improvement in its financial performance in 2025, posting a net profit of GH₵246.25 million, according to the 2025 State Ownership Report of the State Interests and Governance Authority (SIGA).

The result represents a major improvement over the company’s GH₵118 million net profit recorded in 2024, highlighting stronger financial performance and continued positive momentum within Ghana’s state-owned energy sector.

The 2025 State Ownership Report, published by SIGA on August 28, 2026, provides an assessment of the financial and operational performance of state-owned enterprises and other entities in which the state has an interest.

Net Profit More Than Doubles

At the centre of Ghana Gas’ 2025 performance was the substantial increase in profitability.

The company increased its net profit from approximately GH₵118 million in 2024 to GH₵246.25 million in 2025.

That represents an increase of about GH₵128.25 million, or roughly 109 percent year-on-year.

The sharp improvement suggests that Ghana Gas was able to maintain a positive financial position while continuing its role as a key player in Ghana’s midstream gas industry.

Revenue Remained Substantial

Ghana Gas also recorded substantial revenue during the year, generating GH₵6,874.76 million in 2025.

The revenue figure underscores the scale of the company’s operations and its importance within Ghana’s energy value chain.

Ghana Gas operates infrastructure for gathering, transporting and marketing natural gas and produces and processes products including lean gas, condensate, LPG and isopentanes. The company also supplies gas to the Volta River Authority for power generation.

With revenue of nearly GH₵6.9 billion, the company remained a major commercial entity within the state-owned enterprise landscape.

Strong Asset Base

Beyond profitability and revenue, Ghana Gas controlled a substantial asset base of GH₵17,115.18 million, equivalent to about GH₵17.12 billion, in 2025.

The size of the asset base reflects the strategic importance of the company’s infrastructure and operations to Ghana’s energy sector.

Ghana Gas’ facilities include its gas-processing operations at Atuabo in the Western Region, while its headquarters are located in Accra.

Why It Matters

The 2025 performance is significant for Ghana’s broader state-enterprise reform agenda.

SIGA’s mandate is to monitor and supervise specified entities and promote efficient management and profitability, with the ultimate objective of ensuring that state entities contribute more effectively to national development.

Against that backdrop, Ghana Gas’ 2025 results provide a positive example of a state-owned enterprise maintaining profitability while managing a sizeable asset base and generating billions of cedis in revenue.

The figures also matter because stronger-performing state-owned enterprises can reduce pressure on public finances while creating greater value from assets owned by the state.

A Key Player in Ghana’s Energy Value Chain

Ghana Gas plays a strategic role in the country’s energy architecture. Its operations connect natural gas production and processing to major users, particularly the power sector.

The company’s business model generates revenue from the processing, transportation and sale of natural gas and natural gas liquids.

Its financial performance therefore extends beyond the company’s balance sheet: reliable gas processing and supply are important to electricity generation and Ghana’s wider industrial activity.

The Bigger Picture

Ghana Gas’ 2025 results come at a time when SIGA is pushing for stronger performance, improved governance and more efficient management of state-owned enterprises.

SIGA has stated that its reform agenda seeks to optimise asset utilisation, improve financial performance, strengthen corporate governance and transform state entities into institutions that contribute meaningfully to economic growth and national development.

For Ghana Gas, the numbers point to a year of positive financial momentum: GH₵246.25 million in net profit, GH₵6,874.76 million in revenue and GH₵17,115.18 million in total assets.

Taken together, the figures position Ghana Gas as one of the significant state-owned enterprises in Ghana’s energy sector and provide an important indicator of the potential for improved financial performance among state-owned entities.