President Nana Addo Dankwa Akufo-Addo officially has inaugurated the first phase of the monumental $12 billion Petroleum Hub Project in Nawule, Jomoro, Western Region.
This ambitious venture aims to revolutionize Ghana’s energy landscape by establishing a modern, diversified energy economy.
The project, which will unfold in three phases, includes a 300,000 barrels per day refinery, a petrochemical plant, and extensive storage and port facilities, signaling a major leap forward in Ghana’s role within Africa’s energy sector.
At the groundbreaking ceremony, President Akufo-Addo expressed his enthusiasm about the project’s transformative potential for Ghana.
“Today is a very good day for our homeland, Ghana,” he stated. “This project promises to be a cornerstone of our nation’s development, ensuring that all Ghanaian homes and industries have access to reliable, affordable, and environmentally sustainable energy.”
He emphasized that the hub would complement existing refineries rather than compete with them, focusing on servicing the African Continental Free Trade Area (AfCFTA) market while creating approximately 780,000 jobs and stabilizing the national currency.
The initiative also places a strong emphasis on environmental sustainability, with advanced technology and green buffers incorporated to protect local wildlife.
President Akufo-Addo reaffirmed the government’s commitment to supporting the TCP-UIC Consortium, responsible for the project’s execution, and announced GH¢200 million in land compensation for the affected communities.
As the project progresses, the establishment of the Jomoro Petroleum Hub Development Corporation (JPHDC) and the training of 200,000 Ghanaians will further solidify the project’s impact on local and national development.
