By Eugene Davis
The Petroleum Hub Development Corporation (PHDC) is appealing to the government for GH₵300 million to compensate farmers and other property owners for the full acquisition of 20,000 acres of land at Jomoro in the Western Region, earmarked for Ghana’s proposed petroleum hub.
According to the Corporation’s Chief Executive Officer, Dr. Toni Aubynn, the delay in resolving compensation and land title issues is hindering progress, despite growing investor interest.
“Investors are knocking on our doors, but without clear land ownership and settled compensation, we cannot proceed. These unresolved matters are stalling the commencement of operations,” Dr. Aubynn said during a media interaction after a meeting with Parliament’s Energy Committee.
Although former President Nana Akufo-Addo directed the release of GH₵200 million for compensation, the amount was not included in the 2024 Budget, further delaying the hub’s establishment.
Dr. Aubynn emphasized the urgency of resettling affected farmers and securing a clean land title to provide the legal and financial certainty investors require.
“We’ve signed MoUs with interested investors, but they’re essentially dormant until the land is fully acquired. The GH₵300 million compensation is critical to move this project forward,” he stated.
About the Petroleum Hub Project
The Petroleum Hub Project, initiated under former President Akufo-Addo, aims to transform Ghana’s downstream petroleum sector into a modern, diversified, and sustainable energy economy. The hub will serve as a refining, storage, distribution, and petrochemical enclave with a focus on eco-friendly energy products.
Occupying 20,000 acres along the Jomoro coastline, the US$60 billion project is among Africa’s largest infrastructure ventures. In August 2024, Ghana signed a landmark US$12 billion agreement with the TCP-UIC Consortium—comprising Touchstone Capital Group Holdings Ltd., UIC Energy Ghana Ltd., and China Wuhan Engineering Co.
The hub is projected to create up to 780,000 direct and indirect jobs, while ensuring affordable, reliable, and environmentally sustainable energy access for households and industries across Ghana.
