The President of the Republic, Nana Addo Dankwa Akufo-Addo, has officially broken ground for the commencement of the $12 billion Jomoro Petroleum Hub at Nawule in the Jomoro Municipality of the Western Region.
The hub aims to enhance Ghana’s capacity to process crude oil locally, reducing the need for imports of refined petroleum products. It also seeks to attract significant investment into the country’s oil and gas sector, creating jobs and boosting the local economy.
Once completed, the hub is expected to generate approximately 780,000 jobs. These jobs will be created both directly and indirectly across various phases of the project, including construction, operations, and the development of related industries and services.
The project is anticipated to significantly increase employment opportunities in the Western Region and beyond, contributing to the area’s economic growth and development.
In his address, President Akufo-Addo stated that the petroleum hub, estimated to cost $12 billion, has been designed in three phases. It is expected to include the construction of a 300,000-barrel-per-day refinery, two million cubic meters of storage tanks, and a petrochemical plant. The project is projected to create about 780,000 jobs.
The Minister of Energy, Hon. Herbert Krapa, emphasized that the petroleum hub will anchor all the government’s efforts over the last few years in the oil and gas sector. He highlighted initiatives such as the Gold for Oil program, aimed at reducing fuel prices, and the introduction of various technologies to enhance quality and revenue assurance in the fuel supply chain.
The CEO of the Petroleum Hub Development Corporation, Charles Owusu, described the project as a potential game-changer. He noted that the Petroleum Hub is expected to provide jobs, promote technology transfer, and position Ghana as a center for refining and training in petroleum and petrochemical products and services.
