President Nana Addo Dankwa Akufo-Addo has officially launched the first phase of the groundbreaking $12 billion Petroleum Hub Project on August 19, 2024, in Nawule, Jomoro, Western Region.
This landmark ceremony signals the start of a monumental endeavor aimed at transforming Ghana into a major player in Africa’s energy sector through the development of a state-of-the-art refinery, petrochemical plant, and comprehensive storage and port facilities.
The ambitious project, set to unfold in three phases, promises to elevate Ghana’s energy infrastructure, create approximately 780,000 jobs, and stabilize the national currency.
During the ceremony, President Akufo-Addo emphasized the project’s role in ensuring reliable and affordable energy across Ghana.
“Today is a very good day for our homeland, Ghana,” he declared. “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.”
With an eye on global sustainability standards, the Petroleum Hub Project incorporates advanced technology and environmental safeguards.
President Akufo-Addo reaffirmed the project’s commitment to serving the African Continental Free Trade Area (AfCFTA) market, while also benefiting the local Jomoro community through significant investments, including GH¢200 million for land compensation.
