In a landmark event poised to transform Ghana’s energy sector, President Nana Addo Dankwa Akufo-Addo has officially launched the $12 billion Petroleum Hub Project.
The ground-breaking ceremony, held in Nawule, Jomoro, marks the beginning of a three-phase initiative aimed at establishing Ghana as a pivotal player in Africa’s energy market.
The ambitious project will feature state-of-the-art facilities, including a 300,000 barrels per day refinery and a petrochemical plant. These developments are expected to create numerous jobs, stabilize the national currency, and significantly contribute to Ghana’s economic growth. Designed to complement existing refineries in Ghana and the West African region, the hub will primarily serve the African Continental Free Trade Area (AfCFTA) market.
President Akufo-Addo emphasized that the project is not solely about energy production but also about ensuring that every Ghanaian home and industry has access to reliable, affordable, and environmentally sustainable energy. The hub is set to become a benchmark for crude and petroleum product pricing in Africa, equipped with cutting-edge technology and green buffers to support local flora and fauna.
Expressing pride in the collaboration between the private sector, government, and local communities, particularly the Chiefs and people of Jomoro, President Akufo-Addo announced the release of GH¢200 million to commence land compensation. He also highlighted the commitment to training 200,000 skilled, semi-skilled, and unskilled Ghanaians to support the project, ensuring widespread benefits, especially in the Jomoro enclave.
“The Petroleum Hub Project is a testament to our collective determination to build a prosperous and sustainable future for Ghana,” President Akufo-Addo stated. He urged all Ghanaians to seize the opportunities presented by this project and work together towards realizing its full potential.