Massive Economic Potential from Petroleum Hub Project
Emmanuel Drah, MP for Upper West Akim and a member of the National Democratic Congress (NDC), has spotlighted the transformative impact of Ghana’s $60 billion Petroleum Hub project. Located in Jomoro, this initiative is expected to anchor the country’s economic revitalization through large-scale oil and gas infrastructure.
Project Scope and Infrastructure
Speaking to Daily Graphic, Mr. Drah explained that the Petroleum Hub will occupy 20,000 acres. It will house a 300,000-barrel-per-day refinery, petrochemical facilities, and extensive storage units. This setup is designed to boost Ghana’s ability to process crude oil locally, reducing the country’s reliance on fuel imports and attracting both local and foreign investments.
Job Creation and Industrialisation
The project is expected to create over 780,000 jobs, driving major socioeconomic development. It will also fuel industrialisation across the country and help position Ghana as a strategic player in Africa’s energy landscape.
GDP Growth and Revenue Generation
According to projections, the Petroleum Hub will increase Ghana’s GDP by 70% and generate $1.56 billion in export tax revenue by 2030. This growth in foreign exchange earnings is expected to improve fuel security in the region and lower the country’s exposure to global energy disruptions.
Affordable Energy and Economic Competitiveness
Mr. Drah noted that the project will help lower fuel costs, making energy more affordable for both households and industries. This cost reduction will boost Ghana’s global competitiveness and attract further investment into key sectors.
Focus on Sustainability and Clean Practices
Environmental concerns have not been overlooked. The Petroleum Hub is expected to operate using clean and sustainable technologies, reducing the country’s carbon footprint and contributing to climate change efforts.
Skills Development and Technology Transfer
The initiative also aims to build local technical capacity. Training programs will equip Ghanaians with skills in refining and petrochemical operations. Through partnerships with international oil companies, the project will encourage technology transfer to enhance self-reliance in Ghana’s oil and gas sector.
Innovation and Collaboration
The hub will foster collaboration among local firms, global investors, universities, and research institutions. This approach aims to spark innovation and strengthen Ghana’s petroleum industry through shared knowledge and expertise.
With a strong focus on economic growth, job creation, sustainability, and technological advancement, the Petroleum Hub project represents a major leap toward transforming Ghana into an energy and industrial powerhouse.
