President Nana Akufo-Addo has officially cut sod for the commencement of the Petroleum Hub Project in Nawule, Jomoro, located in the Western Region.
The $12 billion initiative is set to transform the nation’s energy landscape and position Ghana as a significant player in Africa’s energy market.
The Petroleum Hub, which will be developed in three independent phases, will feature state-of-the-art facilities, including a refinery capable of processing 300,000 barrels of crude oil per day, as well as a petrochemical plant.
The project is expected to generate thousands of jobs, stabilize Ghana’s currency, and significantly contribute to the nation’s economic growth.
“This project is a bold step towards transforming Ghana’s energy sector,” President Akufo-Addo remarked during the sod-cutting ceremony. “It 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.”
Beyond energy production, the hub aims to provide reliable, affordable, and environmentally sustainable energy to Ghanaian homes and industries.
Equipped with cutting-edge technology and green buffers to protect local flora and fauna, the hub is set to become a benchmark for crude and petroleum product pricing across Africa.
Acknowledging the vital support from the 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 emphasized the government’s commitment to training 200,000 skilled, semi-skilled, and unskilled Ghanaians to support the project, ensuring that the benefits are widely felt, especially within the Jomoro enclave.
“This project is a testament to our collective determination to build a prosperous and sustainable future for Ghana,” President Akufo-Addo stated, urging all Ghanaians to seize the opportunities presented by the Petroleum Hub.
He expressed confidence that the project would make Ghana a leader in Africa’s energy sector, envisioning a bright and promising future for the nation.
