President Nana Addo Dankwa Akufo-Addo has highlighted the benefits that Ghana will derive from the Petroleum Hub initiative.
On Monday, 19th August 2024, the president cut the sod for the commencement of the Petroleum Hub Project in Nawule, Jomoro, in the Western Region—a project that signifies a bold step towards transforming Ghana’s energy sector.
The President said this $12 billion initiative, which will be developed in three independent phases, is poised to establish Ghana as a key player in Africa’s energy market.
With state-of-the-art facilities, including a 300,000 barrels per day refinery and a petrochemical plant, he added, this hub will create jobs, stabilize the currency, and contribute significantly to our nation’s economic growth.
This project is designed to complement existing refineries in Ghana and the West African region, with a focus on serving the African Continental Free Trade Area (AfCFTA) market.
It is not just about energy production; it is about ensuring that every Ghanaian home and industry has access to reliable, affordable, and environmentally sustainable energy.
The hub will be a benchmark for crude and petroleum product pricing in Africa, equipped with cutting-edge technology and green buffers to support local flora and fauna.
“I am proud to see the strong collaboration between the private sector, government, and the local communities, especially the Chiefs and people of Jomoro, who have generously offered their land for this project.
“In recognition of their contributions, I have directed the release of GH¢200 million to commence land compensation. Additionally, we are committed to training 200,000 skilled, semi-skilled, and unskilled Ghanaians to support this project, ensuring that the benefits are felt widely, particularly in the Jomoro enclave.
“The Petroleum Hub Project is a testament to our collective determination to build a prosperous and sustainable future for Ghana. I urge all Ghanaians to seize the opportunities this project presents and to work together towards realizing its full potential. Together, we can make Ghana a leader in Africa’s energy sector, and I am confident that the future of our nation is bright and full of promise,” President Akufo-Addo wrote on Facebook after the sod-cutting ceremony.
